According to Finextra, Visa filed the applications with the US Patent and Trademark Office earlier this month. The application stated, “Providing virtual environments in which users can interact for recreational, leisure or entertainment purposes accessible in the virtual world
The filing of a trademark for NFTs by a well-known celebrity, firm, or brand is always cause for celebration among NFT enthusiasts. This frequently refers to upcoming endeavours, as seen with everyone from Kanye West to the Mean Girls franchise. According to trademark lawyer Mike Kondoudis, the most recent member of this group is multinational payment processor VISA, which on October 22, 2022, filed two NFT trademark applications.
These programmes include non-downloadable software that enables users to see, access, and transfer NFTs, cryptos, and other types of data. The establishment of a virtual environment where users can interact for entertainment and leisure is also mentioned in these filings.
Goals for NFT using VISA
We have some sense of what VISA might be intending based on the information that has been made public through the filings. NFTs, cryptocurrencies, and even the Metaverse appear to be among them. If we’re lucky, VISA products and services could provide a 360-degree blockchain experience by including all the most well-liked blockchain-based services.
These comprehensive trademark applications are not a surprise despite their size. Even Web3’s partner payment processors, like Western Union, have been entering the market in droves. In the end, NFT enthusiasts will profit the most because they will have a variety of possibilities.