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Chicago Board Options Exchange Files Trademark for NFT & Crypto Services

The Chicago Board Options Exchange (CBOE Exchange, Inc. (CBOE)) has filed for a trademark application for CBOE DIGITAL for a non-fungible token (NFT) trademark, attorney Michael Kondoudis announced through a tweet.

“The Chicago Board Options Exchange has filed a trademark application for CBOE DIGITAL indicating plans for Exchanges and trading platforms for NFT backed digital assets; Marketplaces and exchanges for crypto + non-fungible + digital assets,” Kondudis, a Washington DC-based trademark lawyer, tweeted.

The application was submitted to the U.S. Patent and Trademark Office on April 14, 2022.

It also signals plans by the CBOE Exchange to expand to various virtual, crypto and financial goods and services such as the provision of a financial exchange for the trading of digital assets authenticated by NFTs; financial exchange services; operation of electronic exchange for buyers and sellers of NFTs and online non-downloadable software for users to create, exchange, sell, purchase, and transmit non-fungible assets, digital assets, and crypto collectables authenticated by NFTs.

According to Kondoudis, “the CBOE is the largest options exchange in the U.S. This filing is the next logical step to protect the CBOE brand as it moves further into the digital economy of the Metaverse.”

“The CBOE is clearing taking a proactive, forward-thinking approach to ensure that it is a leading financial exchange in the digital economy of the Metaverse,” he added. “It is a safe bet that the CBOE expects to be a major player in that virtual economy.”

Kondoudis tracks Metaverse and NFT trademark filings at the U.S. Patent and Trademark Office. However, Kondoudis does not represent the CBOE.

Earlier this year, the New York Stock Exchange filed a similar trademark application, according to Kondoudis, trademark applications by the CBOE have become a trend of filings in the financial sector for NFT and blockchain asset trading.

“We expect the number of trademark filings for NFT and blockchain products and services from the financial services sector to continue over the next 12 months as brands come to appreciate the opportunities of the digital economies,” Kondoudis added.

U.S. Air Force Files Trademark Application for Digital Metaverse 'SpaceVerse'

The U.S. Air Force (USAF) filed a trademark application for “SpaceVerse” with the U.S. Patent and Trademark Office to expand military training into the metaverse.

In a tweet on Tuesday, “SpaceVerse” is designed to “converge terrestrial and space physical and digital realities” and “provides extended-reality training, testing, and operations environments”. The filing also added that it will provide a secure digital metaverse of synthetic and simulated extended-reality (XR) training, testing, and operational environments.

The application was submitted last Thursday, April 14. The trademark application has been accepted by the Office (has met the minimum filing requirements) and has not yet been assigned to an examiner.

Two weeks before the USAF filing, Payment company Mastercard filed for 15 trademarks related to NFTs, crypto, and metaverse. They include NFT-backed multimedia, marketplaces for digital goods, and metaverse-related payment transaction processing and e-commerce software business.

Another payment company American Express also filed for similar trademarks last month as Mastercard for “downloadable computer software for facilitating the transfer of a virtual payment card to an electronic mobile wallet,” among other areas.

FIFA Files Metaverse-Linked Trademark Applications for 2026 World Cup

Federation Internationale de Football Association (FIFA), the world’s largest football governing body, has reportedly filed for trademarks as it seeks to take experiences that will be created in the 2026 World Cup into the metaverse.

The news about the metaverse filing was first unveiled by Mike Kondoudis, a USPTO licensed trademark attorney who unveiled that the filing was made on July 14 this year. As shown in the trademark filing, part of the revealed physical items that FIFA plans to digitize includes retail stores featuring virtual goods and virtual clothing, headwear, eyewear, and sports gear.

As a part of its aggressive effort to become a metaverse-focused organization, FIFA also plans to integrate some of its core financial and monetary services as part of the metaverse.

Additionally, the FIFA trademark is interested in other key areas, including Financial Payment Management Services, Virtual Stock trading, Digital, Virtual and crypto exchanges, and their respective managements. With much detail not known by the FIFA trademark, it is evident that the body is ramping up its interest in the blockchain ecosystem.

In anticipation of the coming Mundial, FIFA has inked partnerships with at least two renowned crypto startups, including Algorand and Crypto.com. Algorand is taking up a role as the Football governing body’s blockchain partner and will be developing its digital strategy, while Crypto.com will serve as the official exchange partner of FIFA.

The association between FIFA and these entities is undoubtedly one of the most watch-out for social media nowadays. It is bound to serve a mutually benefitting relationship for everyone involved.

It is yet unclear whether products from the FIFA trademark filing will be given out for free or with an attached condition. What is, however, very clear is that the world football body looks ready to dive fully into the Web3.0 space as a pioneer through this newly filed trademark.

Luxury Luggage Brand Hermes Files for Crypto, NFT and Metaverse Trademarks

After Hermes sued NFT project MetaBirkins for allegedly using its brand to sell digital collectables in December last year, the luxury brand giant has joined other top fashion companies in a quest to gain a foothold in the virtual world.

Patent attorney Mike Kondoudis wrote that Hermès filed a trademark application for cryptocurrencies, NFTs, and the Metaverse with the U.S. Patent and Trademark Office (USPTO) on August 26.

The company filed a trademark application for “retail store services featuring virtual goods,” as well as fashion and trade shows in “online virtual, augmented or mixed reality environments,” and “an online marketplace for buyers and sellers of virtual goods.” the patent covers metaverse, crypto and NFT-related products and tokens.

Hermès also plans to host fashion shows, trade fairs and exhibitions, guided tours and games in virtual, augmented or mixed reality.

On April 22, Axel Dumas, chairman of the executive board of Hermès, said at the recent annual general meeting of shareholders that although the group will still focus on the inheritance of handicrafts, it will consider using “Metaverse” for communication and publicity in the future. “We are curious and interested in the metaverse,” he said, adding that it could be a good communication tool.

Leading Italian luxury fashion house Dolce & Gabbana has already sold a nine-piece collection of fashion NFTs dubbed Collezione Genesi or the Genesis Collection for a whopping $6 million.

Several other luxury or jewellery brands have released their branded NFT collections.

Last month, passes for physical copies of Tiffany & Co.’s debut 250 NFTs were sold out in about 20 minutes for 30 ether (ETH) each or about $50,000.

NFT, Metaverse Trademark Applications for 2022 Has Surpassed 2021

The non-fungible token (NFT) and metaverse worlds are growing at a very fast pace and this is currently being shown through the trademarks that are being filed in the ecosystem.

According to US Trademark lawyer Mike Kondoudis, the Web3.0 and Metaverse trademark-related applications for this year have already surpassed the total recorded in 2021.

According to data he posted, as many as 4,200 US trademark applications were filed for metaverse, virtual, and web 3 goods and services within the first 8 months of this year. Additionally, the NFT-specific trademarks have already outpaced that of last year with crypto-hinged trademarks also hitting impressive figures.

The metaverse might be adjudged as a relatively new space, but a number of companies are betting big on the potential innovation they can usher in.

Many are actively throwing their hats in the ring with trademark applications. Should these trademarks be granted, the law will protect the unique innovation that is being pushed forward by these firms, a move that can grant a very unique competitive advantage in the next few years.

Amongst the companies pushing for these metaverse-linked advances is tech giant, Meta Platforms Inc. The company changed its name from Facebook Inc last year as it looks to change its overall outlook from a predominantly social media outfit to a metaverse-focused one.

The embrace of the metaverse by Meta Platforms has shown how much traditional or Web 2.0 companies are moving in serious tandem with technological advances in the Web 3.0 space.

Besides the trademark filings, investors are also getting ready for the future metaverse and Web 3.0 world through cash injections into protocols building infrastructure in the space.

Amongst the platforms being bankrolled includes Magic Eden and Playful Studios to mention a few. With bets being heightened across the board, consumers and prospective users are only waiting for the featured platforms to deliver on their promises.

Ford Makes NFT Entry With Trademark Applications

American automobile giant Ford Motor Company is making a grand entry into the metaverse and Web3.0 ecosystem through its targeted trademark applications.

According to trademark attorney Mike Kondoudis, the company has filed 19 trademark applications for all of its major brands claiming plans for virtual cars, trucks, vans, and clothing.

The company has also requested online stores for non-fungible tokens (NFT), pushing forth a narrative that the Web3.0 ecosystem is not peculiar to just one industry.

While this is the first foray of the tech giant into the metaverse, quite a number of car brands have made their moves into the NFT world in the past few years. Lamborghini, the Italian luxury brand launched its limited series NFT collection last year, featuring a 3D Composable material that has travelled into space.

Besides Ford Motor Company and Lamborghini, Mercedes-Benz, Hyundai, and Bentley have all also floated their own respective NFT collections. In what is now becoming a trend, each of these companies is launching their NFT collections with a defining theme that spans creativity to a piece of their history and more underlying reason.

The NFT and Metaverse world is growing at a breakneck pace, with brands within the fashion industry, social media, entertainment, and even financial services floating new services and obtaining patents in preparation for a more global embrace in the near future.

With the metaverse that many are envisaging open to new creativity and innovation, patent filing is being used as a means to secure some unique solutions well ahead of time. According to Kondoudis, the number of patent applications from January to August of this year has far exceeded the total recorded in the 2021 financial year.

The wake-up call accepted by crypto-native firms towards the development of the metaverse is now spreading abroad to Web2.0 firms also. Experts project a more mainstream focus of brands into the metaverse in the next few years.

US' 2022 Web3 Trademark Filings 3 Times Over 2021's Total So Far

The number of non-fungible tokens (NFT) and other blockchain-related trademark applications filed in the United States this year has already outstripped the entire total from last year by 3-to-1.

In 2021, a total of 2,142 NFT-related trademarks were filed, but by the end of September 2022, there were 6,366 such trademarks submitted – a total that has already nearly tripled in 2022 compared to the entirety of 2021 – based on U.S. Patent and Trademark Office data compiled by the trademark attorney Mike Kondoudis.

March of this year saw the most NFT-related trademarks filed in the US, with 1,080 submitted. While, every subsequent month in 2022 had lower filings, with a 15% decrease between August and September of this year.

The trading volume of NFTs between May and June fell 74%, previous data from The Block Research showed as per a report from Blockchain.News.

The trading volume for May was $4 billion, while June saw $1.04 billion.

The Block reported that, to date, the 74% decrease is the largest month-over-month drop in NFT marketplace trading volume; the previous low was 48%, which occurred between February and March this year.

The data showed that the dominant player in the NFT marketplace in June was OpenSea, with $696 million in total volumes for that month. It represented 67% of the month’s total monthly volume.

However, NFT-related trademark filings in March surpassed what 2021 had in its entirety and despite the month-over-month decreases until September 2022.

A few popular companies that filed trademarks this year include McDonald’s, Crocs, CVS and even the television personality Dr Oz.

Although web3-related trademark filings have increased, it does not necessarily mean that these companies intend to launch such products. These trademarks are primarily filed to protect their intellectual property from being misused in virtual spaces.

The NFT sector has become popular since around 2020, during the peak COVID turmoil, and it is expected to grow even further.

According to a report from Research and Markets, the capability of NFTs to authentic intellectual property will become the key driver expected to push the sector to a $97.6 billion valuation by 2028.

By ensuring that intellectual property is stored in a tamper-proof blockchain, Research and Markets expects NFTs to continue gaining steam. For instance, a fashion designer can have their garment embedded in a blockchain-powered smart contract.

Juniper Research reported that NFT transactions are expected to reach $40 million by 2027 as the metaverse trend continues to gain steam.

The study noted that a 66.6% growth would be recorded during the forecast period. Per the report: “NFT transactions will rise from 24 million in 2022 to 40 million by 2027. This is based on our medium scenario for adoption, with brands leveraging the metaverse to boost digital growth.”

For consumer-centred businesses, the research pointed out that creating NFT-based content would give them a competitive advantage based on the changing needs of the younger and tech-savvy demographic.

Fujitsu Files Trademark for Crypto Brokerage Services

Japanese multinational tech company Fujitsu has filed a trademark application with the United States Patent and Trademark Office (USPTO) for a new branding that intends to offer a range of financial services, including cryptocurrency brokerage services. According to the official document filed on March 16, the proposed mark consists of the stylized word “FUJITSU” with a sideways s-shaped swirl over the “J” and “I.” The new branding would support various financial facilities, such as accepting deposits, financing loans, financial management, and the exchange of crypto assets.

Fujitsu has been increasingly interested in the Web3 technology space, with the launch of its Web3 acceleration platform in February 2023. The platform aims to support startups and partner companies in creating a diverse ecosystem of Web3 applications that span a range of use cases, including digital content rights management, business transactions, contracts, and processes. The move demonstrates Fujitsu’s commitment to driving innovation in the emerging Web3 industry.

The company’s decision to offer cryptocurrency brokerage services comes as financial regulators in Japan call for stricter banking rules for the crypto sector. In January 2023, the Deputy Director General of the Financial Services Agency’s Strategy Development and Management Bureau, Mamoru Yanase, urged global regulators to introduce tighter banking rules to improve the crypto industry’s governance and internal controls. He acknowledged that the issue wasn’t with crypto technology itself but with the “loose governance, lax internal controls, and the absence of regulation and supervision” that led to recent scandals in the sector.

Fujitsu’s move into the crypto brokerage services market signals its recognition of the growing importance of cryptocurrencies and blockchain technology in the financial industry. The new branding could help Fujitsu establish itself as a leading provider of crypto-related financial services, leveraging its extensive expertise and resources in the technology sector.

In conclusion, Fujitsu’s trademark application for cryptocurrency brokerage services and other financial facilities demonstrates the company’s commitment to the emerging Web3 industry and its growing interest in cryptocurrencies. The move could also help Fujitsu establish itself as a leading provider of crypto-related financial services and position itself at the forefront of innovation in the financial technology sector.