E-commerce giant Ebay has filed two trademark applications covering a wide range of products and services related to metaverse and non-fundable tokens (NFT).
Ebay’s NFT and Metaverse Trademark Applications
Ebay Inc (Nasdaq: EBAY) last week filed two trademark applications with the United States Patent and Trademark Office (USPTO) covering a wide range of products and services related to non-fungible tokens (NFTs) and the metaverse.
USPTO-approved trademark attorney Mike Kondoudis tweeted Tuesday.” Ebay Inc. is coming to the Metaverse.” He explained that the application shows the e-commerce giant’s plans for a virtual goods marketplace, an online retail store for physical and virtual goods, NFT, NFT exchange, and NFT trading. The serial numbers of the application are 97473696 and 97473620.
The day before Ebay filed the two trademark applications, the company announced that it had acquired NFT marketplace Knownorigin; Ebay said the two companies signed and closed the deal on June 21.
Ebay CEO Jamie Iannone explained at the time:” Ebay is the first stop for people around the world looking for the perfect, hard-to-find, or unique addition to their collection, and with this acquisition, we will continue to be a major site as our community increasingly adds digital collectibles.”
The e-commerce platform began allowing NFT sales last May, citing “a huge wave of attention” in this area.
This month, McKinsey & Company said the metaverse could generate $5 trillion by 2030.” By 2030, the firm noted, “it is quite possible that more than 50% of live events will take place in the Metaverse.
The April survey also showed that the Metaverse will be the most popular location for crypto, with 70% of respondents agreeing that “advances in cryptocurrency and blockchain technology are essential to shaping the future of the Metaverse.” Additionally, Citigroup predicted that the metaverse could be a $13 trillion opportunity with 5 billion users by 2030, while Goldman Sachs sees the metaverse as an $8 trillion opportunity.
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