General interest in cryptocurrencies is not what it used to be during the all-time highs of 2017 and established companies in the industry have been rethinking their priorities. Entrepreneurship in the crypto space, characterized by ingenuity and optimism, remains strong however. This is shown by the fact that dozens of businesses and individuals in the U.S. have filed for crypto-related trademarks this year.
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Giants Fascinated by Crypto Again?
For a while it seemed the times when large corporations were competing to apply for patents and trademarks for crypto and blockchain products had passed. But towards the end of December, South Korean electronics manufacturing giant Samsung registered a trademark in the U.K., Samsung Crypto Wallet, which gave credibility to the rumors about the upcoming integration of a digital currency wallet into its new flagship smartphone.
Then recently, footwear and sportswear manufacturer Nike filed for a trademark called “Cryptokicks.” The application was submitted to the U.S. Patent and Trademark Office (USPTO) on April 19 and covers a number of products and services related to cryptocurrencies. Some of the listed items refer to a marketplace for buyers and sellers of digital currency assets and an online retail store featuring footwear and clothing.
Other large companies that have previously applied for crypto-related patents and trademarks include globally recognizable names such as Mastercard, Amazon and Walmart. In most cases, however, the products and services mentioned in the filings are yet to be developed and introduced to the market. At the same time, many small businesses and individual entrepreneurs who file for crypto trademarks and patents actually rely on them to build their business. In other words, they don’t do it ‘just in case.’