Meta filed its patent trademark with the Brazilian Agency on 25 January and now aimed to focus more on this project.
At the beginning of Q4 2021, Facebook rebranded its name into Meta. After this decision, the Metaverse concept is getting huge support in the whole crypto and tech industry. The majority of the reports claimed that Facebook changed its name into Meta only because it wants to stand at the top in the next-level VR tech innovations and nothing.
On 25 January, Meta filed for its patent of Metaverse-based unique services with the Brazilian National Institute of Industrial Property (INPI) for its Digital assets-based products and services like trading, wallets, and exchanges platforms.
Investigation and research, on this trademark filing of Meta, found that Meta will allow third-party crypto companies to provide their services in its Metaverse (virtual world).
“Design, development, and implementation of software for third-party verification services for digital currency transactions, including (but not limited to) transactions involving Bitcoin currency.” Filing revealed
This filing of Meta was placed in October 2021 from Jamaica. And it is worth noting that Meta rebranded its name into Meta later, the company first filed for the trademark filing.
Meta wants to focus on Metaverse only
Reportedly Meta is planning to sell its crypto and blockchain arm Diem Association to a bank, Silvergate Capital Corp. According to the WSJ report, the deal may be done with a total of $200 million but first it will go through regulatory approval.
Few experts noted that the decision by Meta to sell its blockchain subsidiary is an effort of the company to focus with 100% potential on its Metaverse-based project, which gives more authority to Meta to give crypto services through third-party crypto companies.
Read also: Fitch says Russia crypto ban may slow down the Innovations