Ebay Inc. (Nasdaq: EBAY) is coming to the metaverse! The e-commerce giant recently filed two trademark applications with the United States Patent and Trademark Office (USPTO), covering a wide range of products and services relating to non-fungible tokens (NFTs) and the Metaverse.
According to USPTO-licensed trademark attorney Mike Kondoudis, the filings indicate Ebay's plans for good virtual marketplaces, online retail stores with actual and virtual goods, NFTs, NFT exchanges, and NFT trading. The applications’ serial numbers are 97473696 and 97473620.
This is big news for the growing NFT and metaverse industries, as eBay is one of the world's largest e-commerce platforms. With over 182 million active buyers and nearly 1.5 billion live listings, eBay's massive reach could help bring NFTs and the metaverse to the mainstream.
eBay isn't the only company that's been trademarking metaverse-related terms lately. Social media giant Facebook (NASDAQ: FB) also filed a trademark application for "Metaverse" in February 2021. It looks like eBay is getting serious about NFTs.
Just one day before the online marketplace filed two trademark applications for "eBay Collectibles" and "eBay Digital Collectibles," it announced that it had acquired NFT marketplace Knownorigin.
According to eBay, the two companies signed and closed the deal on June 21.
eBay CEO Jamie Iannone described at the time: “they are the first stop for people across the globe who are searching for that perfect, hard-to-find, or unique addition to their collection and, with this acquisition, we will remain a leading site as our community is increasingly adding digital collectibles.”
With its acquisition of Knownorigin, eBay is positioned to become a major player in the burgeoning NFT space.
So if you're looking to get your hands on some digital collectibles, it seems like eBay will be the place to go.
It looks like the metaverse is about to get a major boost from one of the world's biggest online marketplaces.
They also announced that it will start allowing sales of non-fungible tokens (NFTs) on its platform, citing the "massive wave of attention" the technology is receiving.
According to estimates from McKinsey and Company, this move could have a big impact on the metaverse, which is expected to generate $5 trillion in economic activity by 2030.
"By 2030, it is entirely plausible that more than 50 percent of live events could be held in the metaverse," the company said.
With Ebay's backing, it looks like the metaverse is on track to becoming a mainstream reality.
As the world increasingly goes digital, it's no surprise that the metaverse is becoming more popular. A survey conducted in April showed that the metaverse will be the most popular place for crypto, with 70% of respondents agreeing that “cryptocurrency and blockchain technology advancements will be critical to shaping the future of the metaverse.”
Moreover, Citigroup predicted that the metaverse could be a $13 trillion opportunity with 5 billion users by 2030, while Goldman Sachs sees the metaverse as an $8 trillion opportunity.
With so much potential, it's clear that the metaverse is here to stay. So what does that mean for cryptocurrency? Well, for one thing, it means that there will be even more demand for cryptocurrency. As more people enter the metaverse, they'll need a way to pay for goods and services.
Cryptocurrency will be the perfect solution for this. In addition, blockchain technology will play a big role in the metaverse. Blockchain will make the metaverse even more secure and efficient by providing a secure and decentralized way to store data.
So what are you waiting for? Get involved in the metaverse today and start using cryptocurrency!
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