According to recent data, Meta, the parent company of Facebook, may be planning to launch its crypto exchange. The company has filed eight new trademark applications for the Meta logo covering crypto tokens, blockchain software, virtual currency exchanges, financial and monetary trading, and digital, crypto and virtual currencies.
Trademark attorney Mike Kondoudis, who specializes in NFT and metaverse trademarks, shared the trademark numbers on Twitter. He also said that“These repositories reflect the company’s strategy for moving to the metaverse. Meta clearly has big plans for the virtual economy that will drive it.
Meta Platforms has filed 8 trademark applications for its logo. Applications cover:
— Mike Kondoudis (@KondoudisLaw) March 23, 2022
Crypto trading potential – Meta Exchange
The rise in popularity of the metaverse means that NFT real estate could sell for $1 billion in 2022. Additionally, regulation around digital assets is currently at the forefront of government policy. As Metaverse assets and lands become more commonly tradable on social media, it would be obvious for Meta to add NFTs to the Facebook marketplace. This week’s app would allow them to be branded as Meta from a brand perspective. However, NFTs could be considered a financial asset and subject to financial trading laws in the United States. If this were to happen, and Meta wanted to offer NFT trading on its platform, it would need to protect its brand in this category. Mark Zuckerberg recently revealed that NFTs are coming to Instagram, so in some ways this is already in play. However, there are other legal and regulatory minefields to navigate other than just filing your trademark to be legally authorized to trade in financial assets.
While there is no direct news as to whether the brand is signaling a Meta crypto exchange is coming anytime soon, it seems increasingly possible that one is in the works. We know Meta wants to be on the cutting edge of Metaverse technology. It’s literally in their name and their mission statement.
A metaverse-focused exchange would be a logical step on the path to conquering the metaverse. Meta cannot control every metaverse project without investing hundreds of billions of dollars. Sandbox’s market cap alone is currently $4.2 billion, while the decentralized nature of the blockchain means they can’t just buy out the competition like they did with Instagram. So, another method would be to become a hub for all metaverse projects – a centralized location to trade metaverse tokens, NFTs, and other digital assets. The Meta exchange would be a portal to the metaverse for all projects. From there, it may also be a good idea to list popular coins such as Ethereum and Bitcoin as gateways to the metaverse for crypto investors. Suddenly you have Facebook as the centralized heart of the global metaverse. Along with Facebook, Messenger, WhatsApp and Instagram, they already control much of the daily international attention. Will they also be able to capture the Metaverse?
Meta in the Metaverse
Meta has also trademarked new names, Meta Portal and Meta Horizon, to cover virtual reality, augmented reality, social media, and mixed reality software. Horizon is a metaverse project on the Oculus platform owned by Meta. The inclusion of the Meta name in branding may indicate a broader move for the company to open up the metaverse beyond virtual reality.
Meta’s plans for crypto dominance have plummeted in recent years. Their stablecoin project, Diem, was a spectacular failure and was sold to Silvergate earlier this year. However, this activity was carried out under the Facebook brand. The move to Meta seems to have left open some legal loopholes that the company is now trying to fill. Still, a question now arises: “Does Meta simply protect its intellectual property by trademarking its logo for use in crypto and financial commerce, or is there more to it?”
Let me know what you think of potential Meta moves in crypto exchanges. Do you think this will happen in 2022? What is Meta’s next step in the blockchain space after Diem’s failure? Contact me on Twitter or by email.
We would like to give thanks to the writer of this short article for this amazing content
Meta (Facebook) Plans To Launch Its Own Crypto Exchange
Visit our social media profiles as well as other pages related to themhttps://metfabtech.com/related-pages/