MasterCard To Enter the Crypto World With NFTs After VISA & AmEx

·2-min read

Key Insights:

  • MasterCard intends on making a full-force approach by providing NFT, educational, and payment services in the Metaverse.

  • Not too long ago, AmEx, too, had revealed its virtual world plans by filing for trademarks.

  • Apart from companies, even exchanges such as the NYSE filed similar trademark applications.

As per the Trademark/Service Mark Applications registered with the U.S. Patent and Trademark Office, MasterCard will be covering everything from events in the Metaverse to NFTs, tech, and other general interests. 

Metaverse Welcomes MasterCard

The financial services provider will also provide entertainment and educational services in the Metaverse and further expand it to other social, cultural, and community events.

Through the Metaverse, MasterCard might be attempting to provide its financial services to the users in the virtual world as well.

According to another filing found, MasterCard has filed an application to trademark its iconic yellow and red dots, which will be visible on virtual credit, debit, and payment cards.

Using this, MasterCard aims to push the use of its cards for making transactions throughout the virtual world. 

It is well known that the Metaverse is mostly uncharted territory with monetary value for as long as the hype exists. But given the big names that have already entered this space, it might live on for long.

Thus being a leading financial services provider in that space where LAND plots are sold for as much as $10,000, MasterCard could mint profits.

But the company also will be approaching NFTs beyond just Metaverse services. In regards to the same, a filing stated,

“Downloadable music files authenticated by non-fungible tokens (NFTs); downloadable multimedia files containing artwork, text, audio, and video authenticated by non-fungible tokens (NFTs).”

These NFTs will be under the “PRICELESS” tag, which has also been the company’s advertising campaign since 1997.

But MasterCard is not the only one to tap the space as other major public companies and even exchanges are preparing to enter the virtual world.

Others in the Line

As FXEmpire reported a while ago, the New York Stock Exchange (NYSE) promptly submitted similar applications to expand to NFTs and Metaverse, focusing on digital currencies and virtual retail stores.

Similarly, the likes of KFC, Pizza Hut, and Taco Bell also took this approach to announce their entry into the Metaverse.

At this point, it seems like everyone and anyone who can, is using the Metaverse more as a marketing strategy and less as an alternative to the real world. 

This article was originally posted on FX Empire

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