The global financial and payments giant, American Express, has hinted towards its plans to get on the metaverse bandwagon with seven trademark filings associated with virtual financial services and its iconic Centurion logo.
The trademark applications submitted by the company include software for credit cards, travel, and concierge services. Additionally, it also indicates the development of a virtual environment for amusement and entertainment and an NFT marketplace.
The company also plans to introduce wallet services for digital and blockchain assets, a virtual currency exchange, and trading services for digitized and utility tokens in the near future.
American Express looks to comprehensively establish its presence within the metaverse. The company’s entry could accelerate several financial functions powered by virtual and augmented reality. It could foster the development of financial applications that bridge the gap between the real and virtual worlds.
The company had begun experimenting with NFTs last summer. It offered its cardholders a limited series of 14 digital collectibles by the music artist SZA, priced at $100 apiece.
Nevertheless, it is not the first payments company to explore the exciting space. Several banks and payment corporations across the globe have experimented with Web3 and crypto technologies and applications. Notable brands, such as JP Morgan, Mastercard, and Visa, have made an array of investments into startups and assets in the space.
“American Express is always monitoring emerging technologies to see how they could benefit our customers, and the metaverse is a space we’re following,” said an Amex spokesman to a query from CoinDesk on the company’s metaverse plans. “We have no plans to share at this time but are watching as this space evolves.”
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