Mike Kondoudis, who is licensed to practice law in the area of trademark law, made the announcement on November 14 that UA had applied for crypto-based trademarks. In addition, the university is going to register its name and logo as a trademark in the Metaverse.
Kondoudis claims that the six trademark applications cover a variety of different sectors. NFT marketplaces, digital tokens and NFTs, financial brokerage services, and an online store for digital goods are some examples of the services that fall under this category.
In addition to this, the tweet disclosed that the applications were submitted by the institution on November 9th. Downloadable multimedia assets that comprise photographs, audio, artworks, and videos will be included among the NFT-based services that the institution will provide in the near future.
These multimedia files would be available for download as NFTs for users to access. Additionally, it will provide digital collectibles in the form of sports- and athlete-related items.
In addition, there will be an online store where customers can purchase digital goods, as well as an NFT marketplace where customers can buy and trade NFTs.
The issuing of NFTs is yet another service that the UA plans to provide. In addition to this, it will offer brokerage services focusing on cryptocurrencies, non-fungible tokens, and crypto-collectibles.
In the meantime, the cryptocurrency business has seen a rise in participation from leading corporations all around the world. This is abundantly clear when one considers the recent surge in the number of trademark applications in the country relating to cryptocurrencies.
Just in 2022, there have already been multiple trademark filings for NFTs and cryptocurrencies. In addition, a number of enterprises have entered the market in recent years.
They include makers of high-end automobiles, companies that specialize in technology and clothes, financial organizations, and government entities, respectively.
The University of Arizona Has Previous Experience With Cryptocurrency
On Monday, it was reported that the prestigious watchmaker Rolex has ventured into the cryptocurrency market. On October 31st, the premium watchmaker made trademark filings with the United States Patent and Trademark Office (USPTO).
According to the documents, Rolex intends to provide services linked to cryptocurrencies and NFTs. The fact that Rolex had applied for a trademark that was based on cryptocurrencies became public knowledge not long after other firms, like as Visa, Western Union, and Nissan, had done something very similar.
In addition, a number of people have drawn parallels between the marketplace for cryptocurrencies and the internet. They believe that businesses that enter the cryptocurrency market at an earlier stage will have a more significant competitive edge.
As a result, the ever-increasing interest in the cryptocurrency market ought not to come as a shock. Several businesses are interested in getting in on the ground floor of this emerging market.
Additionally, the University of Alabama has demonstrated an interest in cryptography. In the year 2020, the organization entered into a collaboration with the blockchain analysis company known as Chainalysis.
The purpose of this endeavor is to equip students with the education and training they need to acquire skills relevant to cryptocurrencies. A similar development has occurred at the University of Arizona, which has begun to accept donations from patrons in the form of cryptocurrency.