- American Express is ready to set its foothold in the metaverse.
- It filed for 7 trademark applications indicating further expansion in digital services.
- American Express is now following the lead of Visa, JP Morgan, and Mastercard to enter metaverse.
American Express is expanding its horizon to the metaverse also. It has filed 7 trademark applications for its iconic logo and American Express, Amex, Centurion, Shop Small, and Membership rewards.
This indicates that like Visa, JP Morgan, and Mastercard, American Express is also ready to venture into Web 3.0 with its IP. This step indicates the addition of new services like NFT backed multimedia, Cryptocurrency services, virtual banking, and even exchange services.
According to filings in the U.S. Patent and Trademark Office on March 9, American Express is ready to grow its footprint in the metaverse, a digital world based on VR (Virtual Reality) and AR (Augmented Reality).
AMERICAN EXPRESS has filed 7 trademark applications for its logos and
Indicating plans to offer
✅NFT backed multimedia
✅Virtual banking + exchange services#NFTs #Metaverse #web3 pic.twitter.com/g06qSTUDYH
— Mike Kondoudis (@KondoudisLaw) March 15, 2022
As per the Decrypt verifications, American Express requested secure trademarks on credit card software, concierge services, travel software, an NFT marketplace, and a virtual recreation and entertainment environment.
The trademark registrations of American Express also plan to provide digital and blockchain asset wallet services. The services will extend to virtual currency exchange and digitized and utility token trading services.
However, American Express is a bit late to debut in the metaverse but still many Banks are even hesitant to enter this digital space. On the contrary, many banks are active in cryptocurrency exchange and engaging with blockchain-based techs.
Last Year Visa announced on Twitter that in a series of collecting historic commerce artifacts now they also own an NFT-commerce. After paying 49.5 ETH (around $165,000 at the time) Visa purchased a digital art called CryptoPunk, a series of 10,000 pixelated avatars.
American Express began exploring NFTs last summer. It offered cardholders a limited run of 14 digital collectibles featuring music artist SZA for $100 each.
Just last month, JP Morgan created Onyx Lounge, a virtual lounge in Decentraland. He then described the metaverse as a “$1 trillion opportunity.”