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MasterCard To Enter the Crypto World With NFTs After VISA & AmEx

Skylar Shaw

Apr 12, 2022 10:38


  • MasterCard aims to take a full-throttle approach in the Metaverse, including NFT, educational, and payment services.

  • AmEx, too, recently exposed its virtual world aspirations by submitting trademark applications.

  • Apart from businesses, trademark applications were also made by exchanges such as the NYSE.

MasterCard will cover anything from Metaverse events to NFTs, tech, and other general interests, according to Trademark/Service Mark Applications filed with the United States Patent and Trademark Office.

MasterCard Joins the Metaverse

In addition to financial services, the company will provide entertainment and educational services in the Metaverse, as well as extend its offerings to include additional social, cultural, and community activities.

MasterCard may be seeking to deliver its financial services to people in the virtual world through the Metaverse.

MasterCard has submitted an application to trademark its characteristic yellow and red dots, which will be visible on virtual credit, debit, and payment cards, according to another document.

MasterCard hopes to promote the usage of its cards for transactions in the virtual world by doing so.

For as long as the hype remains, it is commonly known that the Metaverse is primarily undiscovered terrain with monetary worth. However, considering the high-profile brands that have already joined the market, it is possible that it will survive for a long time.

MasterCard might benefit as a prominent financial services provider in a market where LAND parcels may sell for as much as $10,000.

However, the business will tackle NFTs in a way that isn't limited to Metaverse services. "Downloadable music files authenticated by non-fungible tokens (NFTs); downloadable multimedia files comprising artwork, text, audio, and video authenticated by non-fungible tokens (NFTs)," according to the same filing.

The "PRICELESS" branding will be applied to these NFTs, as has been the company's advertising effort since 1997.

Other large public firms and even exchanges are prepared to join the virtual world, and MasterCard is not the only one to do so.

Others Waiting in Line

The New York Stock Exchange (NYSE) quickly filed identical proposals to extend to NFTs and Metaverse, focused on digital currencies and virtual retail outlets.

KFC, Pizza Hut, and Taco Bell, for example, used this strategy to announce their debut into the Metaverse.

At this time, it seems like the Metaverse is being used more as a marketing technique than as an alternative to the actual world by everyone and everyone who can.