eBay is the newest mainstream company to express interest in the metaverse by filing trademark applications for a variety of items in the sector.
The organisation submitted an application for non-fungible tokens (NFT), NFT exchanges and NFT trading, virtual goods marketplaces, and online retail outlets with both actual and virtual items. On June 23, the application was filed with the United States Patent and Trademark Office (USPTO). Michael Kondoudis, a registered trademark attorney, tweeted June 28 the news of the application.
eBay’s metaverse perspective
A review of the application reveals that eBay’s metaverse initiative intends to provide items such as an interactive website that enables customers to interact with digital assets on the blockchain. Additionally, the business intends to provide exchange services for NFTs.
As the metaverse idea expands, eCommerce platforms are poised to be among its primary benefactors, including features such as personalised customer experiences and enhanced consumer involvement in addition to enhanced user experience.
Notably, eBay’s foray into the metaverse may help the corporation expand its business and attract new consumers while it confronts the current economic downturn. Despite being a pioneer marketplace, Finbold revealed on June 28 that the company’s shares have been downgraded after losing over 30 percent of its value YTD.
More corporations entering the metaverse
Amazon (NASDAQ: AMZN), a competitor of eBay, has also shown interest in the metaverse by revealing intentions to improve the consumer experience with Amazon View, an augmented virtual room. The product provides users with a 3D representation of their home’s floor plan.
Most companies across sectors are warming up to the metaverse, mostly due to the desire to improve client engagement. Recently, Mars Inc., a worldwide leader in the chocolate industry, submitted an NFT trademark registration for its iconic brand M&M.
McDonald’s and KFC are two other corporations that have invested in the metaverse. In May, DeLorean Motor Company filed two NFT trademarks elsewhere.
According to research by Finbold, the number of NFT-related trademarks in the United States topped 4,000 between January 1 and May 31, 2022.
Also Read: Reuters Reports That Russian Legislators Have Approved Tax Deductions For Crypto Producers
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