VISA has filed several patent applications to develop a metaverse and various applications for cryptocurrency payments, digital wallets and NFT management.
VISA, the financial services company, has filed two patent applications with the United States Patent and Trademark Office. One of them is for creating a Own platform in the metaverse and the other for the development of digital payment applications with cryptocurrencies.
VISA applications have been submitted on October 22 and demonstrate that the company intends to strengthen its actions in the Web3 environment, both in virtual universes and in the cryptocurrency payment and custody, as well as NFTs.
In fact, one of the patent applications includes the Development of a digital wallet, digital transaction management and cryptocurrencies, as well as NFTs, virtual goods and the development of metaverses. The financial company is also looking into developing blockchain programs identity verification and Web3 accounts, something similar to what you are doing JP Morgan.
VISA presentations follow those of PayPal, which aims to develop a own virtual ecosystem in the metaverse, as well as tools to enable virtual payments and even the use of NFTs as a financial tool.
Web3 Audit and Rewards
Along with the applications submitted, VISA has also announced that it intends to launch digital audit software for cryptocurrencies, and even digital assets for VISA customers, tokens and other blockchain tools, along with a range of entertainment or user retention products.
In this sense, it is a kind of fidelazation program which offers rewards to users, either in the form of NFTs or recreational materials through blockchain.
VISA Token Service, the platform for creating tokens
In August, the company revealed that its token creation platform, VISA Token Service, had created more than 4.000 billion tokens, a number that exceeds the number of VISA cards in circulation.
The service Doubled the number of tokens issued worldwide in just one year, demonstrating that blockchain technology has begun to be adopted worldwide as a means of digital payments.
For VISA, tokenization is a tool for the preservation and reduction of sensitive payment data. In addition, tokenization can be used for the fraud prevention and make digital payments more secure.
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