Haribo, Fico, Fujitsu, and others, are taking proactive steps to secure their intellectual property in the Web3 and NFT space through patents. Patents have become a hot topic recently as companies seek to gain a competitive edge in the fast-paced blockchain industry. By filing patents, these companies can protect their innovations and stay ahead of the curve. Let’s take a closer look at which companies are leading the way in securing their Web3 and NFT intellectual property patents.
NFT Verification Goes Mainstream: Why Patents and Trademarks are on the Rise
Web3 businesses are rushing to secure blockchain-related patents as web3 and digital collectibles experience a resurgence. Significantly, companies are seeking to secure US and international patents or trademarks related to blockchain and NFT sectors. This is to safeguard their intellectual property and gain a competitive advantage. Additionally, this is raising the possibility of exclusive access to events and collections, potentially turning passive customers into active players. According to Gökçe Güven, CEO of Web3 tooling platform Kalder, the strategy of increasing engagement and branding loyalty could benefit both individual NFT creators and big brands alike.
Furthermore, Nihar Neelakanti, the CEO of carbon-backed NFT creator Ecosapiens, suggests that as web3 projects continue to evolve, NFT patents are becoming increasingly important. Significantly, they verify the authenticity of NFTs on the blockchain. With NFTs serving as digital proof of ownership, having proper verification measures in place can help prevent fraud and increase consumer trust. As a result, companies in the web3 space are turning to patents and trademarks. Ultimately, this is a means of protecting their intellectual property and ensuring the integrity of their NFT offerings.
Web3 Patent Rush: Companies File to Protect Their Intellectual Property in the Digital Asset Space
Now, let’s take a closer look at some well-known businesses that have recently filed patents for their Web3 offerings. It’s important to note that filing for patents doesn’t necessarily mean a product is imminent. However, it’s a clear indication of the interest these companies have in the Web3 space and their desire to protect their intellectual property.
Firstly, Haribo, the German candy maker known for its gummy bears, has taken a bold step into the world of NFTs. The company registered an NFT-related trademark application with the US Patent and Trademark Office on April 25th. Significantly, it filed for several applications. These relate to “digital collectibles in the nature of downloadable multimedia files.” They also include “downloadable audio and video recordings, digital avatars and cartoons relating to confectionery.”
Next, Global analytics software firm, FICO, recently received 12 patents, some relating to web3. Significantly, one for its use of blockchain for data and model governance. FICO is best known for its FICO Credit Score product. This is used by lenders to evaluate individuals’ creditworthiness and determine whether they are eligible for loans or credit cards.
Finally, in March, Japanese electronics giant Fujitsu filed a trademark application. This covers a wide range of services, including crypto trading. The filing enables Fujitsu to explore money exchange and digital asset management, as well as brokerage services for crypto.
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