Visa: New app for Crypto Wallets, NFTs and Metaverse

Submitted the relevant applications to the United States Patent and Trademark Office

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Two trademark applications relating to digital wallets, NFTs and Metaverse, have been filed by payments giant Visa with the United States Patent and Trademark Office (USPTO).

Part of one of the applications applies to trademarks related to software for “digital transaction management, for use as a digital currency wallet and storage services software, for use as a cryptocurrency wallet, and for managing and verifying cryptocurrency transactions using blockchain technology.”

Another application relates to “providing temporary use of software that cannot be downloaded for users to view, access, store, monitor, manage, exchange, send, receive, transmit and exchange digital currency, virtual currency, cryptocurrency, digital assets and blockchain assets and non-exchangeable tokens (NFT).”

Collectible NFTs

Other parts of the applications relate to “virtual goods” and “a collectible set of non-exchangeable tokens” as well as “providing virtual environments in which users can interact for leisure, recreation or entertainment purposes accessible in the virtual world.”

Applications were submitted on 22 October.

Visa’s applications follow a series of similar moves by several large companies, including American Express and the New York Stock Exchange, which have filed similar applications in the past year.

In 2020, Visa filed a patent application for a process for converting physical fiat currency into a new digitized version.

“At Visa, we are constantly exploring technologies that could lead to new payment innovations and greater financial inclusion,” a company spokesperson told CoinDesk via email on Friday. The spokesperson added that “every year we seek patents for hundreds of new ideas. While not all patents will lead to new products or features, Visa respects intellectual property and we are actively working to protect our ecosystem, our innovations and the Visa brand.”

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