Cryptocurrency

Chinese companies start Metaverse trademark competition

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Although the People’s Bank of China (PBOC) issued a warning on Metaverse and non-fungible tokens (NFT) in November, more than one thousand Chinese companies have filed thousands of Metaverse-related trademark applications.

At a summit last November, Gou Wenjun, director of the Anti-Money Laundering and Analysis Center of the People’s Bank of China, said Warn about the dangers of digital assetsGou said that because virtual assets have no physical basis, they can be used for illegal financial activities. Guo Taiming cited activities such as “illegal fundraising, pyramid schemes and fraud.”

However, despite the warning from the People’s Bank of China, Chinese companies scrambled to register metaverse-related trademarks such as “metaverse satellite” and “metaverse exhibition.” According to the South China Morning Post, more As of Sunday, more than 1,360 Chinese companies have submitted 8,534 trademark applications related to Yuanjie.

Most companies applying for trademark registration are technology companies. This includes big companies like Huawei and Hisense. The former applied for the registration of “Meta OS”, and the latter applied for multiple trademarks in various fields such as social services, advertising and science. Game and technology giant Tencent also joined in, registering nearly a hundred trademark applications related to Metaverse, including “QQ Metaverse,” “QQ Music Metaverse,” and “Wang Zhe Metaverse.”

In addition to the warning from the People’s Bank of China, the People’s Daily, the official newspaper of the Communist Party of China, also issued a warning on Yuanjie on December 9. The newspaper warned people engaged in digital asset purchases-that is, real estate sales in Yuanjie carry a high risk of volatility.

related: Cameron Bale, co-founder of NFT.NYC, said that we see NFT art being adopted by the mainstream in 2021.

The trademark application did not surprise many people The demand for NFT is on the riseAccording to data from Crypto Slam, the NFT sales tracker, NFT sales in the past 7 days alone reached 580.7 million U.S. dollars. According to Cointelegraph Consulting’s research, NFT sales It is expected to reach 17.7 billion U.S. dollars by 2021.