NFTs, Metaverse Trademark Applications Drop
Data study reveals that the once-popular non-fungible token and the metaverse market have lost some of their allure. The current state of the market indicates that investors’ focus has switched away from NFTs and towards digital assets like meme coins, crypto tokens, and play-to-earn games.
The number of investors who were previously inspired to engage in the non-fungible token industry in the United States has considerably fallen this year compared to last year, according to data provided by Mike Kondoudis, an accredited intellectual property lawyer.
A total of 1,406 trademark applications for non-fungible tokens had been submitted to the USPTO as of May. The data show a 75% decrease from the 4,242 NFT trademark applications filed in 2022. In January, the trademark office received 325 NFT patents; in February, 265; in March, 358; in April, 215; and in May, 243.
The amount of investors who have expressed interest in the developing metaverse industry over the previous five months has likewise remained modest. The number of metaverse applications submitted to the USPTO since the year’s beginning has decreased from 3,011 to just 1381.
(With inputs from Shikha Singh)
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