Founded in 1966, Mastercard is gearing ready to now offer virtual events, with guests present as avatars in the metaverse.
According to recent filings at the United States Patent and Trademark Office (USPTO), Mastercard is looking to enter the metaverse. The payments company is looking into ways to process payment cards in the virtual world, as well as opening a digital marketplace for downloadable goods that can be bought, sold, and traded. The development comes after Mastercard expanded its consulting teams to work around Web 3 adoption after discussions with merchants and members of other banks.
Mastercard, which was founded in 1966, is preparing to host virtual events, with attendees appearing as avatars in the metaverse.
As part of its patent applications, the corporation has requested permission to hold educational seminars, cultural events, concerts, sporting events, festival celebrations, and even weddings.
Mastercard’s iconic logo, which consists of two circles, one red and one yellow, overlapping each other to form an orange in the center, has also been listed to be given a metaverse makeover, as has the company’s slogan, “There are some things money can’t buy; for everything else, there’s Mastercard.”
As of currently, Mastercard has not formally announced its intentions to enter the metaverse. Because the average time for the USPTO to consider an application is six months, Mastercard may not get updates on its patent filings for up to six months.
Meanwhile, other large names in finance have taken similar precautions before venturing into the metaverse.