Visa has filed two trademark applications that are linked to the metaverse and the NFTs space.
According to Finextra, Visa filed the applications with the US Patent and Trademark Office earlier this month.
The application stated, “Providing virtual environments in which users can interact for recreational, leisure or entertainment purposes accessible in the virtual world.”
The application also specifies ‘non-downloadable virtual goods’, namely, a collectible series of NFTs and software for ‘management of digital transactions, use as a digital currency wallet and storage services software, use as a cryptocurrency wallet, and managing and verifying cryptocurrency transactions using blockchain technology.
Social networking giant Instagram previously revealed it was set to trial the use of NFTs on its platform for some US users.
According to The Verge, a group of NFT creators and collectors will soon be able to display their tokens on Instagram. CEO of Meta Mark Zuckerberg said that NFTs were being tested on the platform, with ‘similar functionality’ also coming to Facebook.
Head of Instagram Adam Mosseri also remarked that a small group of US users will have the ability to display NFTs on their feed, stories and in messages. Details of NFTs will be displayed in a similar way to tagged profiles and products and will be named digital collectables.
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