Constancy to Enter The Metaverse With Newest Trademark Purposes

On Dec. 27, licensed trademark legal professional Mike Kondoudis revealed the newest crypto trademark functions from Constancy Investments.

There have been three functions filed broadly protecting Metaverse applied sciences and providers, NFTs and marketplaces, digital land, and cryptocurrency buying and selling.

The primary pertains to digital media and NFTs, and the second is the availability for a web based market for the sale of NFTs.

#Fidelity has plans for the metaverse!

The corporate has filed three trademark functions protecting
▶️ NFTs + NFT Marketplaces
▶️ Metaverse Funding Providers
▶️ Digital Actual Property Investing
▶️ Cryptocurrency Buying and selling
… and extra!#NFTs #Metaverse #Crypto #Web3 #Defi #Finance pic.twitter.com/op9fg80e7z

— Mike Kondoudis (@KondoudisLaw) December 26, 2022

Crypto Emblems Sought by Constancy

It seems that Constancy needs to supply its providers within the Metaverse somewhat than construct its personal Metaverse. The third trademark software included mutual fund funding providers, retirement fund funding providers, funding administration, monetary planning, and digital invoice fee within the Metaverse and different digital worlds.

It additionally mentions digital foreign money providers, crypto buying and selling, wallets, storage, and custody. Just about something associated to crypto was talked about within the software submitting.

Constancy is one in all America’s largest pension suppliers, and it allowed traders to include Bitcoin of their pension plans earlier this yr. The transfer riled anti-crypto policymakers akin to Elizabeth Warren, who urged the agency to rethink, citing the identical drained warnings over dangers and cash laundering.

In November, the asset supervisor’s crypto unit Constancy Digital Property, allowed its retail clients to invest in Bitcoin and Ethereum. The agency is clearly nonetheless eager on the asset class and associated web3 applied sciences regardless of this yr’s bear market.

On Dec. 23, worldwide banking large HSBC filed trademark functions for its title and brand. They embrace provisions for NFTs, crypto trade and switch, and Metaverse bank card processing.

Metaverse Tokens in Hassle

The bear market has hit Metaverse-related tokens more durable than the dominant property akin to BTC and ETH.

Prime Metaverse tokens akin to Axie Infinity (AXS), The Sandbox (SAND), and Decentraland (MANA) have all been battered by the bears.

AXS is at present buying and selling at $6.84, having misplaced 96% from its November 2021 all-time excessive of $165. Moreover, SAND is all the way down to $0.442 after getting hit 94.7% from its peak of $8.40 in the identical month. Decentraland’s MANA is priced at $0.326, having misplaced 94.4% over the previous yr.

Different gaming and Metaverse tokens, akin to Enjin Coin (ENJ), Render (RNDR), and Magic (MAGIC), are additionally down over 90% from their peaks.