June 14, 2023

NFT Trademark Apps in US Declined 75% in First Five Months of 2023

NFT Trademark Apps in US

NFT Trademark Apps in US

Recent data showed the NFT and metaverse market became less attractive for investors as they shifted their interest to crypto tokens, meme coins, and play-to-earn gaming, according to InsideBitcoins website.

Data collected from Mike Kondoudis, an accredited intellectual property attorney, found that the number of NFT trademark applications in the United States this year has significantly decreased. From January to May this year, the US Patents and Trademark Office received 1,406 trademark applications, compared to 4242 applications in the same period last year, which represents a 75% decline from 2022.

March witnessed the highest number of NFT trademark applications, while April was the lowest month. The trademark office received 325 NFT patents in January, 265 in February, 358 in March, 215 in April, and 243 in May.

As for the metaverse patents, the data reflected the investors’ low interest in investing in the virtual space. According to Kondoudis’s data, the US Patents and Trademark Office received only 1,381 metaverse applications from January to May this year, compared to 3,011 in the same period last year, which represents a 50% decrease from 2022.

The regulatory agency received 289 metaverse applications in January, 244 in February, 361 in March, 228 in April, and 259 in May.

Regarding the crypto applications, data showed a downtrend of the new crypto trademark applications in the US. The US Patents and Trademark Office received 925 applications in the first five months of 2023, compared to 2,832 in the same period in 2022, a 60% down from 2022.

The regulatory office received 213 crypto trademark applications in January, 172 in February, 212 in March, 145 in April, and 173 trademark applications in May.

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