Intuit, a U.S.-based financial software company, has filed a trademark application to enter the metaverse, crypto and non-fungible token (NFT) space.
The trademark applications, which were filed with the USPTO on January 5, reveal the company’s intentions to offer:
- Blockchain software for processing cryptocurrency payments and transactions.
- A virtual marketplace for buyers and sellers of NFT-authenticated digital goods.
- Cryptocurrency, digital currency and virtual currency bill payment services.
- Blockchain-based payment verification services.
- Creation and issuance of NFT and digital tokens.
- Transaction management and validation software for transactions with digital assets, digital tokens, NFT, crypto tokens, etc.
Michael Kondoudis, a trademark attorney specializing in Web3-related trademark registrations, tweeted the news earlier today.
Intuit has plans for Crypto and the Metaverse!
The software company has filed a trademark application claiming plans for:
▶️ NFT + Crypto trading
▶️ Blockchain software
▶️ Cryptocurrencies + Crypto bill paying
…and more!#NFTs #Crypto #Metaverse #Web3 #Finance pic.twitter.com/OrMWxvMnUv
— Mike Kondoudis (@KondoudisLaw) January 10, 2023
Intuit is an early adopter of Bitcoin
Intuit remains an early global adopter of Bitcoin and cryptocurrencies.
The firm’s interest in Bitcoin was evident as early as 2014, when it included the firstborn cryptocurrency in its QuickBooks Online system.
The initiative, which the firm dubbed “PayByCoin,” would allow companies to accept Bitcoin payments from their customers.
The company has been dabbling in cryptocurrencies ever since, and finally obtained a patent from the USPTO that gave it the legal backing to process Bitcoin payments via SMS.
Intuit filed a patent application in 2014, but the USPTO approved its application in August 2018.
Other companies that filed trademark applications
The recent trademark application is the latest attempt by the firm to tap into the nascent blockchain and cryptocurrency industry and underscores a growing interest in the scene by major brands.
Most of these firms also filed cryptocurrency-focused trademark applications, including, among others, Lionsgate, Rolex, JPMorgan, Visa and Western Union.
Fidelity Investments, for example, has filed for three trademarks, indicating its intention to venture into the NFT and metaverse markets, while HSBC has filed trademark applications for its name and logo in order to enter the metaverse with virtual credit cards and NFT.
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