Metaverse Race Continues: Chinese Internet Giant Baidu Registers Trademark
December 20 2021 - 09:03AM
NEWSBTC
Despite the government’s restriction on bitcoin and an imminent ban
on the metaverse, Chinese internet company Baidu announced on
Monday that it has filed its metaverse trademark. Baidu And The
Metaverse Of Xi’rang According to the most recent trade
registration statistics, Chinese enterprises are hurrying to
register trademarks related to the metaverse, or Yuanyuzhou in
Chinese, despite Beijing’s cautions about the risks associated with
the novel concept. Baidu, China’s largest internet corporation,
said earlier today that it has registered its metaverse trademark.
Baidu also showed out a preview of its Xi’rang Metaverse
environment. Chinese Internet giant Baidu's #Metaverse world:
Xi'rang pic.twitter.com/nAKVr7UmNu — 8BTCnews (@btcinchina)
December 20, 2021 According to the Securities Daily, which cited
statistics from company and trademark registration tracking agency
Tianyancha, more than 1,360 Chinese companies, mostly technology
firms, have registered to register metaverse-related trademarks as
of Sunday, up from only 130 entities three months ago. ETH
bloodbath continues. Source: TradingView Apart from Baidu, other
well-known businesses in the Chinese internet industry have also
applied to register their metaverse trademarks. According to a
tweet from Chinese source 8BTC, big brands like NetEase Global,
Alibaba, TENCENT, and Bytedance – TikTok’s parent firm – have
applied for metaverse trademarks. Chinese Internet giant
@NetEase_Global applied for trademarks related to #Metaverse .
Earlier, big names like Baidu, #Alibaba , #TENCENT and Bytedance (
#TikTok parent company) all have applied for metaverse trademarks.
— 8BTCnews (@btcinchina) December 20, 2021 Securities Daily noted
that the majority of trademark applications are currently “pending”
or undergoing “substantive examination.” While metaverse is quickly
becoming the new internet craze, the Chinese government is
currently considering expanding its crypto prohibition to include
metaverse. Last Monday, the Chinese official media issued a warning
against metaverse and cloud mining frauds, citing the widespread
misuse of Metaverse words by con artists. Related article | Cardano
Founder Says Metaverse Is Important For Crypto Chinese Companies
Are Hustling The Metaverse According to a Grayscale research report
released last month, the number of Metaverse users increased by 10X
in just one and a half years. Furthermore, the survey anticipated
that if the metaverse kept growing at this rate, it will become a
trillion-dollar sector by next year. Furthermore, according to
Grayscale’s analysis, Metaverse has the potential to become a
crucial component of Web 3.0, similar to how Facebook played a role
in Web 2.0. The metaverse, which many see as the next iteration of
the internet, offers a lifelike, immersive virtual world where
people can meet, work, and play. Cryptocurrency is used to make
transactions and purchases of virtual products in the metaverse,
which are backed by non-fungible tokens (NFTs) or other digital
assets. Despite the fact that Chinese companies are rushing to
adopt the concept, the Chinese government has maintained a cautious
stance, as stated in state-run media commentators. People’s Daily
issued a new warning about the metaverse on December 9, claiming
that “virtual property” sales posed dangers of volatility, fraud,
illicit fundraising, and money laundering. Last week,
telecommunications giant Huawei Technologies Co and Hisense,
China’s largest television manufacturer, joined the metaverse
bandwagon. Huawei filed a trademark application for Meta OS, and
Hisense filed trademark applications for multiple metaverse
trademarks in industries such as advertising sales, social
services, and scientific instruments. Related article | A Wave Of
New Blockchain Games Are Accelerating Mainstream Adoption Of
Collectibles And NFTs Featured image from Unsplash, chart from
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