- Aiming to provide NFTs through Instagram avatars is already being considered.
- Both Meta Portal and Meta Horizon have been trademarked to encompass VR.
Facebook (Meta) may be planning to launch its own cryptocurrency exchange and digital assets wallet, based on recent data from crypto commentator Bitcoin Archive on its Twitter handle. Tokens, blockchain, virtual currency exchanges, financial and currency trading, and digital, crypto, and virtual currencies are among the eight new trademark applications for the Meta logo that the business has filed. In addition, at least six of the eight trademark applications are for blockchain and crypto products in which the corporation has made investments.
💥Facebook has filed trademark applications for digital asset wallets and exchanges.
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) March 31, 2022
Aiming to provide NFTs through Instagram avatars is already being considered by the firm. Meta reported a decline in daily active users in February, costing them $250 billion in a single 24-hour period. Apple’s privacy measures have also affected Meta’s ad operations, with the business estimating a $10 billion hit.
Meta Aims to Surpass Industry Leaders
Meta also filed a trademark in Brazil at the end of January to deal with Bitcoin and other cryptocurrencies. In addition, Meta also signed a $60 million contract to acquire the trademark assets of Meta Financial Group, a regional bank in the United States. The corporation now has international rights to the corporate names in return for payment.
Both Meta Portal and Meta Horizon have been trademarked to encompass virtual reality, augmented reality, social networking, and mixed-reality applications. Horizon is a metaverse project that runs on Meta’s Oculus virtual reality technology. The Meta moniker in the logo might allude to the company’s desire to broaden the metaverse’s scope beyond virtual reality.
Meta’s aspirations to be the undisputed king of crypto have waned in recent years. Since their stablecoin effort, Diem was sold to Silvergate earlier this year; it has been widely seen as a failure.
