Bitcoin, Ethereum, and other top cryptocurrencies have plummeted to price levels not seen in months\u2014if not longer\u2014but that didn\u2019t stop more than twice as many people and companies from filing Web3-related trademark applications.<\/p>\n

According to data compiled by trademark attorney Mike Kondoudis, some 4,150 applications have been filed for metaverse or virtual \u201cgoods\/services\u201d with the U.S. Patent and Trademark Office through Aug. 31\u2014easily eclipsing the 1,866 filed in 2021.<\/p>\n

But it\u2019s not just metaverse-related trademark applications far exceeding last year\u2019s totals\u2014filings linked to NFTs and cryptocurrencies have also skyrocketed, noted Kondoudis. Companies and individuals have filed some 5,800 trademark applications specifically related to NFTs through August, compared with 3,700 in 2021, and 3,600 cryptocurrency-related trademark applications were filed, about 100 more than all of last year.<\/p>\n

<\/figure>\n

The filings, which often predate companies launching a product or project, show that many firms believe the metaverse isn\u2019t going anywhere, even as Wednesday\u2019s precipitous price declines knocked crypto from the ranks of trillion-dollar-plus asset classes<\/a>.<\/p>\n

The number of metaverse-related trademark applications has slowed since its peak in March, when companies filed 759 applications, compared with 418 in August, but Kondoudis told Fortune<\/em> that the filings are likely to continue.<\/p>\n

\u201cThe rate of crypto trademark filings mirrors the rates for NFT and Metaverse products and services,\u201d Kondoudis told Fortune <\/em>in an email. \u201cThe filing rates for all three have slowed since a peak in March but are continuing and easily surpassing last year\u2019s totals.\u201d<\/p>\n

<\/figure>\n
Max Dilendorf, a New York\u2013based lawyer, told Fortune <\/em>that his firm works with a few sports NFT platforms that have seen strong growth.<\/p>\n
Since last year, the market for sports NFTs has doubled to $2.6 billion, according to a study by Market Decipher, a research and consultancy firm<\/a>. By 2024, the market could swell to $41.6 billion, said Market Decipher, making likely a flood of NFT trademark applications.<\/p>\n
As for the metaverse, Facebook\u2019s rebrand to Meta last year pushed a number of companies to take the concept of virtual worlds seriously. In the last few weeks, companies such as U.S. carmaker Ford<\/a>, luxury fashion label H\u00e8rmes<\/a>, and Formula One<\/a> all have filed metaverse-related trademarks, according to Kondoudis.<\/p>\n
With some big banks like Citi betting that the metaverse could be a nearly $13 trillion market opportunity<\/a>, brands are moving quickly to secure their piece of the pie.<\/p>\n
\u201cBusinesses are preparing their brands to enter into the metaverse in the next few years,\u201d added Kondoudis.<\/p>\n<\/p><\/div>\n
Sign up for the\u00a0Fortune Features<\/a><\/em> email list so you don\u2019t miss our biggest features, exclusive interviews, and investigations.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin, Ethereum, and other top cryptocurrencies have plummeted to price levels not seen in months\u2014if not longer\u2014but that didn\u2019t stop more than twice as many people and companies from filing Web3-related trademark applications. According to data compiled by trademark attorney Mike Kondoudis, some 4,150 applications have been filed for metaverse or virtual \u201cgoods\/services\u201d with the […]<\/p>\n","protected":false},"author":2,"featured_media":21245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[22],"tags":[],"jetpack_featured_media_url":"https:\/\/black-coin.com\/wp-content\/uploads\/2022\/09\/21244-metaverse-trademark-filings-through-august-exceeded-all-of-2021-even-as-crypto-prices-tanked-fortune.jpg","jetpack-related-posts":[{"id":12584,"url":"https:\/\/black-coin.com\/2022\/03\/15\/american-express-ventures-into-nfts-and-the-metaverse-with-trademark-filings-finbold-finance-in-bold\/","url_meta":{"origin":21244,"position":0},"title":"American Express ventures into NFTs and the metaverse with trademark filings – Finbold – Finance in Bold","date":"March 15, 2022","format":false,"excerpt":"In recent weeks and months, the metaverse, also known as virtual reality, has continued to pique the attention of a growing number of companies with credit card service company American Express (NYSE: AXP) the latest to jump on board. In particular, American Express has filed 7 new trademark applications to\u2026","rel":"","context":"In "Celebrities"","img":{"alt_text":"american-express-ventures-into-nfts-and-the-metaverse-with-trademark-filings-–-finbold-–-finance-in-bold","src":"https:\/\/i0.wp.com\/black-coin.com\/wp-content\/uploads\/2022\/03\/12584-american-express-ventures-into-nfts-and-the-metaverse-with-trademark-filings-finbold-finance-in-bold.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":23871,"url":"https:\/\/black-coin.com\/2022\/10\/30\/visa-paypal-western-union-among-fall-flurry-of-crypto-trademark-filings-decrypt\/","url_meta":{"origin":21244,"position":1},"title":"Visa, PayPal, Western Union Among Fall Flurry of Crypto Trademark Filings – Decrypt","date":"October 30, 2022","format":false,"excerpt":"In a striking counterpoint to the heightened crypto skepticism during the current bear market, financial services giants Visa, PayPal, and Western Union were among the notable firms that filed new trademark applications involving crypto and Web3 related products and services in the past week.Visa eyeing a crypto wallet and metaverseAccording\u2026","rel":"","context":"In "Celebrities"","img":{"alt_text":"visa,-paypal,-western-union-among-fall-flurry-of-crypto-trademark-filings-–-decrypt","src":"https:\/\/i0.wp.com\/black-coin.com\/wp-content\/uploads\/2022\/10\/23871-visa-paypal-western-union-among-fall-flurry-of-crypto-trademark-filings-decrypt.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":17961,"url":"https:\/\/black-coin.com\/2022\/06\/30\/one-of-the-most-famous-shopping-cities-in-the-world-could-be-headed-to-the-metaverse-inside-the-latest-t-benzinga\/","url_meta":{"origin":21244,"position":2},"title":"One Of The Most Famous Shopping Cities In The World Could Be Headed To The Metaverse: Inside The Latest T – Benzinga","date":"June 30, 2022","format":false,"excerpt":"Famous for high-end shopping and being the home to celebrities in the U.S., one city could have plans to grow its presence in the metaverse soon.What Happened: The city of Beverly Hills recently filed trademark applications for its name in several areas, as reported by trademark attorney Mike Kondoudis.The trademark\u2026","rel":"","context":"In "Celebrities"","img":{"alt_text":"one-of-the-most-famous-shopping-cities-in-the-world-could-be-headed-to-the-metaverse:-inside-the-latest-t-–-benzinga","src":"https:\/\/i0.wp.com\/black-coin.com\/wp-content\/uploads\/2022\/07\/17961-one-of-the-most-famous-shopping-cities-in-the-world-could-be-headed-to-the-metaverse-inside-the-latest-t-benzinga.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":20908,"url":"https:\/\/black-coin.com\/2022\/09\/01\/real-and-barca-team-up-to-invest-in-the-metaverse-and-cryptocurrency-us-sports-us-sports\/","url_meta":{"origin":21244,"position":3},"title":"Real and Bar\u00e7a team up to invest in the metaverse and cryptocurrency – US Sports – US Sports –","date":"September 1, 2022","format":false,"excerpt":"August 31, 2022 at 6:40 PM by Leo Faussemagne Usually opposed for the worst, but here for the best, Real Madrid and FC Barcelona. A rare fact to be underlined, the greatest rivals of Spanish football will join forces. According to Registered Trademark Attorney Mike Kondoudis, FC Barcelona and Real\u2026","rel":"","context":"In "Sport"","img":{"alt_text":"real-and-barca-team-up-to-invest-in-the-metaverse-and-cryptocurrency-–-us-sports-–-us-sports-–","src":"https:\/\/i0.wp.com\/black-coin.com\/wp-content\/uploads\/2022\/09\/20908-real-and-barca-team-up-to-invest-in-the-metaverse-and-cryptocurrency-us-sports-us-sports.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":19874,"url":"https:\/\/black-coin.com\/2022\/08\/11\/football-giants-real-madrid-and-barcelona-file-a-joint-trademark-application-for-crypto-and-metaverse-finbold-finance-in-bold\/","url_meta":{"origin":21244,"position":4},"title":"Football giants Real Madrid and Barcelona file a joint trademark application for crypto and metaverse – Finbold – Finance in Bold","date":"August 11, 2022","format":false,"excerpt":"Despite the hype around the metaverse deflating and the trading volume of non-fungible tokens (NFTs) going down in the second quarter of 2022, organizations, brands, and celebrities worldwide are still flocking to apply for related trademarks. As it happens, the newest additions to the space are Spanish football clubs FC\u2026","rel":"","context":"In "Celebrities"","img":{"alt_text":"football-giants-real-madrid-and-barcelona-file-a-joint-trademark-application-for-crypto-and-metaverse-–-finbold-–-finance-in-bold","src":"https:\/\/i0.wp.com\/black-coin.com\/wp-content\/uploads\/2022\/08\/19874-football-giants-real-madrid-and-barcelona-file-a-joint-trademark-application-for-crypto-and-metaverse-finbold-finance-in-bold.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":17654,"url":"https:\/\/black-coin.com\/2022\/06\/24\/mars-inc-files-nft-crypto-and-metaverse-trademarks-applications-for-mms-finbold-finance-in-bold\/","url_meta":{"origin":21244,"position":5},"title":"Mars Inc. files NFT, crypto and metaverse trademarks applications for M&M’s – Finbold – Finance in Bold","date":"June 24, 2022","format":false,"excerpt":"As the metaverse concept and non-fungible tokens (NFT) continue to take shape, leading global brands are positioning themselves to benefit from the trend as they explore means to sustain connections with customers.\u00a0 Consequently, leading global chocolate manufacturer Mars Inc. has filed for an NFT trademark application for its popular brand\u2026","rel":"","context":"In "Celebrities"","img":{"alt_text":"mars-inc.-files-nft,-crypto-and-metaverse-trademarks-applications-for-m&m’s-–-finbold-–-finance-in-bold","src":"https:\/\/i0.wp.com\/black-coin.com\/wp-content\/uploads\/2022\/06\/17654-mars-inc-files-nft-crypto-and-metaverse-trademarks-applications-for-mms-finbold-finance-in-bold.jpeg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/posts\/21244"}],"collection":[{"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/comments?post=21244"}],"version-history":[{"count":0,"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/posts\/21244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/media\/21245"}],"wp:attachment":[{"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/media?parent=21244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/categories?post=21244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/black-coin.com\/wp-json\/wp\/v2\/tags?post=21244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}