Crypto Trademark Filings Of 2022 Cross 2021’s At Over 3,600.

• The complete crypto framework has been facing difficulties over 2021 and 2022.
•  Despite all difficulties, the growth of this industry has also not decelerated during this time.

Currently, about 4,000 trademark appeals linked to the crypto and metaverse businesses have been registered. 

Michael Kondoudis, a trademark, and patent advocate posted a Tweet in which he said the number of crypto-linked trademarks has risen in the last few months.

Between January and August, 3,600 trademark applications for crypto were submitted, Kondoudis further added in the tweet. This is a 2.3% hike from the registration of 2021, which stood at 3,516.

Although, the crypto world has not had maximum trademark growth. Kondoudis declared in his tweets that the Non-Fungible tokens had witnessed the most growth.

Since the beginning of this year, over 5,800 trademark applications for NFTs have been logged with the USPTO,” according to the tweets of Kondoudis. This data is only from January to August, while in the last year, the total was about 2087.

In regards to the two values, the growth of NFT trademarks was about 280%, which is a satisfying number. The hike of NFT trademarks that took place recently can be assigned to the absence of intellectual property protection in the crypto world.

NFTs are acknowledged as a means of the future in the art industry. But, if there had not been so many accusations of fraud or copied artwork, the market would have managed better.

On January 28, OpenSea posted a tweet in which he stated that over 80 percent of artworks on the platform had been removed due to violation. Maybe the rate of copied NFTs will drop if this legal security is in place.

Metaverse and Web3 trademarks growth.

Massive growth in development is not restricted to NFTs. The same fits with Metaverse and Web3 trademarks, which have witnessed a rapid hike in popularity. There are nearly 4,150 applications for the metaverse and Web3 from January. If we compare the data from the last year, it stood at a total of 1866, which is an astonishing growth of 223%.

The rebranding of Facebook as meta is widely responsible for the growth. Normally, obsession with the metaverse has risen from that time.

The industries that stand over blockchain should grow and enhance in collaboration with the technology. At the same time, there are many things to be done to secure intellectual property and investor confidence, and this is productive growth. 

This can come out at odds with the decentralized nature of crypto. Crypto still needs to be secured against scams and other hazards as interest from other zone increases.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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