The United States Patent and Trademark Office (USPTO), the agency responsible for registering trademarks and issuing patents in the country, has registered 108 NFT trademarks in 2022.
USPTO-licensed trademark attorney Mike Kondoudis explained that in 2022, the registration of new NFT-focused trademarks with the US federal agency has grown exponentially in relation to the number of NFT companies and brands registered by the office in 2021.
According to Kondoudis, as of last November, the USPTO had registered a total of 108 NFT trademarks. In 2021, the total number of NFT trademarks registered by the US agency was only 3, he said.
In addition to the year-over-year increase, the chart compiled by Kondoudis' law firm shows that the number of NFT trademarks registered by the US patent office has been steadily increasing since the beginning of the year.
Source: Mike Kondoudis
The months of August, October, and November were where the USPTO made the largest number of new NFT trademark registrations.
Companies submitted more than 7.000 NFT trademark applications to the USPTO
NFTs have become one of the main trends in the cryptocurrency and Internet industry and, although the boom seen by these digital assets in 2021 has waned this year, many commercial brands continue to bet on their future.
In fact, the number of trademark and patent applications related to NFT tokens that the US federal agency has received this year is 7.243 applications, according to Kondoudis. The number of applications received by the USPTO represents an increase of 29,5% compared to the previous year, when companies submitted 2.142 trademark applications to the agency.
Source: Mike Kondoudis
However, while there is evident year-over-year growth in the number of trademark applications submitted to the USPTO between 2021 and 2022, it is also clear that companies' interest in non-fungible tokens has been affected by the current bearish cycle experienced by cryptocurrencies. According to the data shown by Kondoudis, March was the month with the highest number of trademark applications, with a total of 1.082 applications received by the USPTO, while in November the federal agency only received 388 new NFT trademark applications.
In contrast, the number of applications for registration of new trademarks related to cryptocurrencies, DeFi, Metaverse and the provision of virtual services has been sustained by companies this year, with a total of 10.363 new applications.
Hello Kitty, Boyd Gaming, White Castle and Beefeater, the new brands that are preparing for the NFT world
Joining the NFT trend, the owners of the brands Hello Kitty, Boyd Gaming, White Castle and Beefeater have filed new applications with the USPTO revealing their plans to enter the world of NFTs.
Hello Kitty's patent application aims to create downloadable art and music files authenticated through non-fungible tokens, as well as the creation of virtual games, trading cards and digital collectibles.
Boyd Gaming, one of the largest entertainment and casino companies in the United States, plans to create downloadable virtual products, goods and services, such as clothing, footwear, backpacks and bags, eyewear and other accessories as digital collectibles to offer to its customers in NFT format.
As for the fast food restaurant chain White Castle and the gin manufacturer Beefeater, they want to offer virtual products in NFTs to promote their businesses and create greater utility for their customers and consumers.
Continue reading: Big brands continue to enter the world of NFTs and Web3
