American Express Applies For NFT, Metaverse Logos: Report

American Express applies for a trademark on NFTs and Metaverse logos according to the recent US Patent and Trademark Office filings as we can see more today in our latest cryptocurrency news today.

The world’s second-biggest payment processor American Express filed seven trademark applications connected to virtual services and the Iconic Centurion logo after it joined its peers JPMorgan, Mastercard, and Visa into exploring Web3 applications. The patent filings show how American Express could develop its own footprint in the metaverse and share a vision of the Internet that can be more immersive by using virtual reality and augmented reality headsets.

Over the last 60 years, Visa has built a collection of historic commerce artifacts – from early paper credit cards to the zip-zap machine. Today, as we enter a new era of NFT-commerce, Visa welcomes CryptoPunk #7610 to our collection. https://t.co/XoPFfwxUiu

— VisaNews (@VisaNews) August 23, 2021

According to the filings, the requests by American Express to secure the trademarks on the software for credit cards, concierge services, and virtual environment for recreation and entertainment as well as NFT marketplace. Included in the filings, there are plans to offer wallet services for blockchain assets and a virtual currency exchange but also digitized token trading services. While some major banks were hesitant when it comes to crypto, others engaged with some blockchain-based techs.

Visa paid 49.5 ETH for a CryptoPunk which is a series of 10,000 avatars saying:

“Over the last 60 years, Visa has built a collection of historic commerce artifacts – Today, as we enter a new era of NFT-commerce, Visa welcomes CryptoPunk #7610 to our collection.”

American Express started dabbling in NFTs and offered the card members a limited series of 14 NFTs that feature the recording artists SZA for each digital collectible cost $100 and a month ago, JP Morgan launched Onyx Lounge which is a virtual lounge in Decentraland, saying that the metaverse is a $1 trillion opportunity.

Just as reported,  The CEO of META confirmed that the non-fungible tokens or NFTs will be coming into the picture for the app. He made the announcement during the SXSW conference but didn’t provide a date for when the new feature might drop on Instagram. Rumors of the news have been circling for months with many predicting that the users will be able to mint the new NFTs on the app and then share those that are already in their collection. During his speech, Zuckerberg said he hopes one day that the users will be able to mint the clothes of their own digital avatars as NFTs but then admitted there’s more work to do before this can happen.