Chinese Telecom Giant ZTE Registers Metaverse Trademark As NFT Trademark Applications Soar In China
Chinese telecommunication giant ZTE has announced its arrival at the Metaverse market. The company has successfully registered several Metaverse English trademarks. However, ZTE’s trademarks fall under the scientific equipment and communications categories.
Battle for Metaverse
Partially state-owned Chinese telecom giant specializes in telecommunication gear, software, mobile phones, and much more. It will be comparatively easier for ZTE to cope with the digital world. However, the company has been seen as a constant threat to threat to national security by the U.S. President Joe Biden has also banned the telecom giant from obtaining new equipment licenses in the country.
Metaverse has been a very trending space and topic since the beginning of this year. Many giants from different categories have jumped into this ecosystem to capture the market. Not just users but big corporations also want to be among the early adopters so that they can evolve with the space. Starting from registering the trademarks, companies are willing to accelerate their work in this field.
China receives 16,000 Metaverse trademark applications
It should be noted that China has discussed the concept of the Metaverse in sets of political meetings in the last month. All this is an aftermath of the Chinese Intellectual Property Administration receiving 16,000 trademark applications in February mentioning the word Metaverse. A sudden surge of getting into the virtual world has led many governments to address the evolution.
As per reports, the Chinese authority has said that the metaverse-related trademarks are unlikely to get passed. Many tech companies like Tencent, ByteDance, NetEase, Baidu, and more have been in the line for approval.
Meanwhile, ZTE’s share price went by over 2.42%. At the end of the day, it was priced at 26.62 Chinese Yuan (approx $4.18).
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