Trademarks Suggest Amex is Headed to Metaverse

Is American Express getting ready to enter the metaverse?

As Coindesk reported Tuesday (March 15), trademark applications filed by the payments giant show the company wants to trademark its logo and items such as the Centurion black card and “Shop Small” program.

In addition, Amex said it wants to conduct virtual payments and electronic business transactions for digital media and non-fungible tokens (NFTs).

So far, the company is keeping mum about its specific plans.

“American Express is always monitoring emerging technologies to see how they could benefit our customers, and the metaverse is a space we’re following,” an Amex spokesman told CoinDesk. “We have no plans to share at this time but are watching as this space evolves.”

If and when American Express lands in the metaverse, it won’t be the only large financial corporation in the space.

Last month, J.P. Morgan opened a lounge in Decentraland, a virtual world based on blockchain technology, while also unveiling a paper explaining how businesses could find new opportunities in this space.

Read more: JPMorgan Opens Branch in Metaverse

“There is a lot of client interest to learn more about the metaverse,” said Christine Moy, who oversees J.P. Morgan’s crypto and the metaverse operations.

The paper, she said, is designed to “cut through the noise and highlight what the current reality is, and what needs to be built next in technology, commercial infrastructure, privacy/identity and workforce, in order to maximize the full potential of our lives in the metaverse.”

See also: CVS Aims To Be First Pharmacy in the Metaverse

Earlier this month, CVS filed its own trademark application to sell virtual goods and NTFs — and provide healthcare services — in the metaverse.

The filing says the pharmacy chain wants to trademark its logo and open an online store, while also selling downloadable virtual products that include “prescription drugs, health, wellness, beauty and personal care products.”