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United Kingdom's Heavyweights are Eyeing an Expansion to the Web3 World

United Kingdom's Heavyweights are Eyeing an Expansion to the Web3 World

Prominent entities in the United Kingdom appear to be eager to enter the Metaverse.

HSBC, a British banking titan, has reportedly made moves toward the Metaverse by filing several trademark applications connected to non-fungible tokens (NFTs) and Metaverse activities.

The banking giant submitted several applications on June 12th to the United States Patent and Trademark Office (USPTO), indicating a deep interest in Metaverse-related financial services.

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The trademarks range from Metaverse banking to consultancy services, along with a virtual credit card. This hints at the potential inauguration of a Metaverse banking branch and an expansion of virtual banking services.

Moreover, HSBC is extending its gaze to the burgeoning field of NFTs. Trademark applications for online marketplaces, specifically targeting NFTs, were included in the filed documents.

This isn't HSBC's first venture into the digital landscape. In December 2022, the bank lodged several trademark applications for crypto and NFT-oriented technologies.

Historically, JPMorgan started the banking industry's movement into the Metaverse. It inaugurated its virtual branch in Decentraland's Metaverse in February 2022. In its wake, several big names, including Visa, PayPal, and Western Union, have registered their Metaverse trademarks.

However, HSBC isn't the sole UK giant harboring ambitions for the virtual realm. Queen Productions Ltd, the production company responsible for managing the intellectual property of the legendary British rock band Queen, has also lodged several Metaverse and NFT-related patents.

A recent patent application submitted to the USPTO on June 12th indicates Queen's plans to offer NFT-authenticated media along with virtual merchandise, including clothing, footwear, and accessories. Moreover, Queen is also exploring the development of mixed reality and virtual software.

The recent activities of HSBC and Queen Productions indicate a growing interest in and adoption of the Metaverse and NFT technologies by leading traditional institutions, blurring the lines between the physical and virtual realms.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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