American Express wants to get into the metaverse and non-fungible tokens (NFT)

American Express has filed 7 trademark applications related to the metaverse and NFTs

American Express, the second largest payment processor in the world, wants to launch into the metaverse. As specialized lawyer Michael Kondoudis reports on Twitter, the American company has filed 7 trademark applications related to digital universes and non-fungible tokens (NFTs).

Dated March 9, the filings addressed to the United States Patent and Trademark Office mention in particular several flagship products of American Express, such as the Centurion Carda black credit card available only by invitation.

The deposits also evoke the arrival of the ShopSmall program in the metaverse. This program, initiated by American Express, offers to support small traders and restaurateurs by using your credit card in their establishments. During the campaign launched in 2020, customers received a €5 discount after spending €20 with their Amex.

These requests show that American Express plans to leverage several elements of its current offering into the metaverse. The company obviously wants provide banking services and open ATMs directly integrated into digital universes. An assistance service in the metaverse, to help users in their fund transfers, has also been imagined.

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Concierge services in the metaverse

The repositories also describe American Express concierge services accessible in the metaverse and tools for digital assets. The company is obviously working on digital wallets that store assetsincluding NFTs.

A platform for exchanging non-fungible tokens is also in the firm’s boxes. As a reminder, American Express had already shown its interest in NFTs in the summer of 2021. The company had offered Amex credit card holders to buy digital works by singer SZA. Each token was sold for $100 to American Express customers.

Note that it is not uncommon for a company to file trademark applications related to the metaverse without announcing its arrival in the digital worlds. These deposits, made upstream of a project, are mainly intended to protect their brands against potential competitors.

As American Express explains to our colleagues at CoinDesk, the American company is not not yet ready to formalize its plans regarding NFTs and the metaverse:

“American Express is always monitoring emerging technologies to see how they could benefit our customers, and the metaverse is a space we are following closely. We have no plans to share more information at this time, but we are watching this space evolve”

American Express is not the only traditional financial giant to take an interest in digital goods and universes. Recently, JP Morgan became the first bank to open a storefront in the metaverse. The financial holding company has turned to the virtual world of Decentraland (MANA).

For its part, the British banking group HSBC purchased land within the metaverse of The Sandbox. According to Goldman Sachs, the American investment bank, the metaverse is an opportunity which could make it possible to release “8 trillion dollars in revenue and monetization”.

👉 On the same subject: American Express invests in a cryptocurrency platform for institutions

Sources: TwitterCoinDesk

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About the Author : Florian Bayard

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