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Tuesday, January 31, 2023

American Express (NYSE: AXP) Preparing to Join Metaverse and Web3 World Soon

American Express Company (NYSE: AXP) has submitted trademark applications for the metaverse and NFT logos. The company has submitted seven trademark applications linked to virtual services and its iconic Centurion logo. Last summer, American Express ventured into NFTs by providing a small run of 14 digital collectibles starring music singer SZA for $100 each to cardholders.

The seven trademarks feature two American Express logos and one each for AMEX. The applications also include a trademark for an exclusive luxury payment brand Centurion, the Centurion logo, Membership Rewards, and the Shop Small program. The trademark applications include a plan to offer NFT supported multimedia, virtual banking plus exchange services, and cryptocurrency services.

Michael Kondoudis, a licensed trademark attorney, has confirmed the submission of Trademark applications by American Express. He tweeted that American Express has submitted trademark registrations for the metaverse and NFT logos. According to the tweet, American Express has submitted seven trademark applications.

Furthermore, according to a March 9 USPTO filing, AmEx is considering offering card payments, ATM services, banking services, and fraud detection to metaverse consumers. It also indicated being linked to client digital wallet software, so the organization can offer awards as well as to conduct electronic commercial transactions in the metaverse and other virtual worlds.

Additionally, AmEx is always studying developing technologies to see how they may assist its clients, and the metaverse is a field it is following, and AmEx spokeswoman confirmed. Recently, JP Morgan has launched a lounge in Decentraland, a metaverse platform, and the NYSE has submitted trademark applications linked to the metaverse.

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