Pi Network Registers the “Pi” Trademark with the US Patent Office

Key highlights:

• Pi Network just scored a big win by getting their trademark registered with the US Patent Office.
• Now they’ve got the federal approval to exclusively use the “Pi” name for all their blockchain goodies.
• As being granted an official trademark shows the government believes Pi has carved out a legit brand in the industry. Plus it gives Pi bragging rights to partnerships and deals down the road.

As the Pi Network community was still buzzing following the recent conclusion of the highly successful PiFest event, which saw participation from pioneers in over 155 countries, some major news was reported this week by Pi News Media on their Twitter account. According to the tweet, the United States Patent and Trademark Office (USPTO) has granted Pi Network’s application to register “Pi” as a trademark.

?Good news worth noting, #PiNetwork is licensed by the U.S. Department of Commerce!@PiCoreTeam #PiFest #Crypto #Web3 pic.twitter.com/9V0Kvze4yB

— Pi News (@PiNewsMedia) December 13, 2023

What does this mean for the project?

Receiving an official trademark registration from the USPTO represents a big milestone for any organization. It shows that the federal government views “Pi” as a legitimate brand associated with Pi Network’s goods and services.

Getting your intellectual property protected by the USPTO gives Pi Network ownership over the exclusive use of the “Pi” name in relation to blockchain-related products and activities. This should help reinforce confidence in the project by reducing the risk of consumer confusion down the road.

Pi Core Team also acknowledged the big news on their Twitter, saying “We’re thrilled for the official trademark recognition of the name “Pi” by the USPTO.” The team has long been diligently working to build Pi Network into a trustworthy platform, and securing this trademark registration is another step toward that goal.

What does this say about regulators’ view of crypto?

On a broader level, obtaining this trademark shows that US government agencies are willing to recognize innovative contributions from the cryptocurrency industry. Like other emerging tech industries have successfully registered their brands, crypto platforms can now expect consideration of their intellectual property rights as well.

Some see it as a positive signal that regulators are taking a more open-minded approach toward blockchain innovation. As with any novel technology, governments and agencies need time to develop understanding before crafting responsible policies. The USPTO’s acceptance of Pi Network’s application suggests a growing acknowledgment of cryptocurrency’s potential economic benefits.

 What other impacts could we see?

This major win for Pi Network could inspire greater confidence and experimentation across the cryptocurrency sector. Now that the USPTO has set this precedent in approving a crypto-related trademark, other blockchain startups may feel emboldened to safeguard their brands through official registrations too.

Trademark protection opens the door to valuable partnership and business opportunities down the line. With the “Pi” name secured, the team can comfortably develop strategic brand collaborations for wallet services, exchanges, payment processors and more.

Pioneers have also expressed enthusiasm on social media about how this shows the project’s increasing legitimacy. Strong brand recognition should help attract more users and investors as Pi Network progresses toward mainnet launch and listing PI tokens on major exchanges.

With a successful PiFest just wrapped and the USPTO’s seal of approval, momentum continues building for an ambitious startup striving to bring cryptocurrency to the masses. At the time of writing, PI trades around $30.73 – a 24-hour decline of 1.56% according to CoinCodex.