NFT and blockchain-related trademarks registered in the US exceed 6,000 in 2022, 3x 2021 figures
Non-fungible tokens (NFTs) and blockchain technology are at the forefront of a trend that sees large parts of the cryptocurrency market increasingly exploited by companies and individuals looking to interact with their audiences in multiple ways.
In fact, NFT and blockchain-related brands in the US exceeded 6,000 from January 1 to September 30, according to the data and chart published by trademark and patent attorney Michael Kondoudis (The Law Office of Michael E. Kondoudis) on October 5.
“So far this year, 6,366 US trademark applications have been filed for NFTs and related blockchain goods and services,” Konduodis stated.
Interestingly, the total in 2021 was 2,142, just under three times less than the nine months of the year. As for 2022, the most productive month was March, when 1,080 new NFT trademarks were registered. Since then, there has been a gradual decline each month, with September recording the lowest number of applications (43%), according to the US Patent and Trademark Office (USPTO).
Soley NFT trademarks in 2021
It is worth noting that in mid-February, Finbold reported that the number of NFT trademark applications in the US in 2021 was 1,263; meanwhile, only three trademark applications were filed in 2020.
According to a survey, the main reason most people buy NFTs is “to make money.” Specifically, 64.3% of the 1,318 people surveyed said this was their main reason for jumping on the NFT bandwagon.
Retail interest in NFTs is on the wane
Elsewhere, interest in NFTs among retail investors continues to wane; in particular, sales of NFTs on OpenSea – the largest marketplace for digital collectibles – in the third quarter of 2022 fell 60% compared to the second quarter.
Earlier, in August, data had shown that Q2 NFT trading activity had already fallen 40% as interest in digital collectibles waned.
Some in the cryptocurrency community, such as Katie Haun, head of $1.5 billion Web3 VC firm Haun Ventures, remain optimistic about NFTs and believe they will eventually make a comeback.
According to her, the general trend towards a digital world will be the primary driver of this return. In her opinion, this transition will enable many new use cases provided that the infrastructure is improved, “more efficient and user-friendly”.
