Mastercard is looking into ways to accept payments in the virtual world. The payment giant has submitted 15 trademark applications with the US Patent and Trademark Office pertaining to non-fungible tokens (NFTs) and the metaverse (USPTO).
According to Cointelegraph, the company is also considering launching an NFT trading marketplace where users may sell and purchase digital assets.
Providing entertainment and educational information in the sectors of cultural events, concerts, sporting events, festivals, and awards shows in the metaverse and other digital worlds,” according to the trademark application filed with the USPTO. Furthermore, the trademark emphasizes the metaverse’s use of cryptocurrencies and non-fungible tokens (NFTs).
According to the trade application, Mastercard’s metaverse logo consists of two circles, one red and the other yellow, overlapping to produce an orange in the center. The company’s motto on the logo reads, “There are some things money can’t buy; for everything else, there’s Mastercard.”
Mastercard has not stated whether or not it intends to enter the metaverse. Mastercard hired 500 additional staff in February to advise banks and merchants on the use of crypto-enabled technologies and NFTs.
Mastercard introduced cryptocurrency-linked payment cards in the Asia-Pacific region in December, allowing consumers to convert their digital assets into fiat currency. The cards are designed to bridge the gap between merchants who do not accept cryptocurrencies and customers who do.
Meanwhile, Visa and American Express have filed various applications for payment cards and services in the metaverse, as well as the use of their cards at NFT marketplaces.
Mastercard Inc. is a worldwide financial services firm located in Purchase, New York, at the Mastercard International Global Headquarters.  O’Fallon, Missouri, is the home of the Global Operations Headquarters, which is located in St. Charles County, Missouri. Its main business is to process payments between merchant banks and card-issuing banks or credit unions of purchasers who use the “Mastercard” brand debit, credit, and prepaid cards to make transactions all over the world. Since 2006, Mastercard Worldwide has been a publicly traded firm.
Mastercard Worldwide was a cooperative owned by the more than 25,000 financial institutions that issue its branded cards prior to its initial public offering.
Mastercard, also known as Interbank from 1966 to 1969 and Master Charge from 1969 to 1979, was developed by a group of regional bankcard organizations in reaction to Bank of America’s BankAmericard, which ultimately became Visa Inc.’s Visa credit card.