Meta has applied for trademark registration in Brazil to provide various cryptocurrency-related services.
Meta (Formerly Facebook) continues to take cautious steps into the cryptocurrency world following Diem’s failure. Meta has applied for trademark registration in Brazil, which allows the social media platform to design, develop and provide hardware/software for various crypto-related services.
The application filed with the Brazilian National Institute of Industrial Property (INPI) on October 5, 2021 is currently awaiting INPI approval. Meta published its registration application earlier this week. Of those made public, the trademark application appears to cover activities involving crypto trading, wallets, and exchanges.
Meta Shifts Its Attention to Metaverse and Web3
Since rebranding Facebook as Meta, the social media giant has shifted its attention to Web3 and Metaverse, hoping to overcome previous challenges in trying to create a mainstream stablecoins. A few days ago, we learned that Meta has abandoned the Diem project, that the company will sell Diem to return capital to investors and pay engineers who previously worked on the project.
Meta recently announced that it will allow the creation and display of NFTs on Instagram and will open an NFT marketplace on Facebook. These initiatives can help many users join the NFT world. Meta CEO Mark Zuckerberg believes that “NFTs can eventually support this world.”
As for the technology giants Apple and Microsoft, which expressed their interest in the metaverse, we see that both CEOs expressed their support for the metaverse. Earlier this month, Microsoft bought Activision Blizzard for $69 billion to step into the metaverse. Tim Cook, Apple’s CEO, stated that the company definitely sees potential in the metaverse.
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