Crypto proponents would be a good idea to keep their eyes on nonfungible token (NFT) and metaverse hallmark applications this year, which are “dependable signals” of future-use plans.Speaking to Pandoraland, copyright lawyer Michael Kondoudis said while many people may believe big corporations are just jumping onto the NFT pattern as a novelty,”it is not possible “to register a trademark in the United States with no objective to use it.Despite a reasonably low cost for submitting an application– varying from$

250 to$350 per class of goods/services– Kondoudis discussed when a business sends a hallmark application, it requires a sworn declaration that the applicant has a”bona fide” intent to utilize the mark in the future for the noted items and services.He noted, however, that these applications “go through substantive review “and may be declined for a variety of legal and

technical factors.2023 has actually already seen a string of significant business filing for NFT-related trademark applications and Kondoudis has actually been active on Twitter, bringing them to the public’s attention.Trademark patterns so far in 2023 Kondoudis kept in mind”the very first trend for 2023″was liquor companies declaring NFT hallmark applications.This year has actually already seen brand-new filings from widely known alcohol

brand names such as Absolut Vodka, Chivas Regal whisky and Malibu Rum, he noted.Irish Distillers International, makers of Jameson Irish scotch, was the current alcohol business

to file for an NFT trademark application on Jan. 18. Irish Distillers Int ‘l has actually filed a hallmark for #JAMESON #whiskey claiming plans for Virtual clothing,

footwear, alcoholic drinks NFT trading software application Shops for virtual goods+ NFTs NFT trading marketplaces Virtual bars +restaurants #NFTs #Metaverse #Web 3 pic.twitter.com/7dhHZrXh2S!.?.!— Mike Kondoudis(@KondoudisLaw )January 23, 2023 Kondoudis said 2022 saw a diverse range of sectors declaring NFT trademarks– from grocery stores, animal food brand names, sports groups and leagues, cities, casinos and even video game shows.He believes the sheer variety of filings confirms NFTs and the metaverse have the attention of”corporate America.”NFT patents provide companies the edge Kondoudis is confident
consumers will see business act on their NFT patents in the future, noting:”These hallmark filings are trusted signals of future plans to utilize marks for the services and products listed in the applications.”Speaking to Pandoraland, Ralph Kalsi, CEO

of Blockchain Australia thinks diving into the NFT patent space can bring significant development chances for companies.Kalsi stated as NFTs continue to acquire popularity, companies holding

patents in the space can capitalize on the possible growth by accrediting their innovation or establishing their own NFT-based items and services.He believes the NFT patent space is a”appealing area “that can establish a company as a leader by being an early adopter of NFT technology.Related: US trademark and copyright offices to study IP impact of NFTs He added that it’s advantageous in the early phase of NFTs to own related patents as it could provide an one-upmanship and avoid others from utilizing”comparable technology without authorization.”According to a Jan. 5 tweet from Kondoudis, applications connecting to NFTs amounted to 7,746 in 2022, a nearly 260% increase from 2021. The rate of brand-new hallmark applications for NFTs and related goods/services continues to slow. Only 341 were submitted in December, which is less than 1/3 of the 1089 filed in March 2022 Total: 7746 2021 Total: 2154 2020 Total: 27 #NFTs #Web 3 #NFTCommmunity #Metaverse #MetaverseNFT pic.twitter.com/KneGIl0WxJ!.?.!— Mike Kondoudis(@KondoudisLaw)January 5, 2023 In a different tweet on the exact same day, he included applications pertaining to the metaverse totaled5,850 last year, a nearly 206%increase from 2021.