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Is PayPal Creating an NFT Marketplace After Trademark Filing?

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PayPal has filed a trademark application related to crypto and blockchain technology.Filing may be related to NFT Marketplacesome say it has to do with Web3 and the metaverse.

A new trademark application by PayPal has been spotted suggesting the creation of services related to several aspects of blockchain technology. irreplaceable Token (NFT) Marketplace.

PayPal has filed two trademark applications for its logo. The first concerns “downloadable software” for trading and storing cryptocurrencies. The second deals with payment processing services associated with cryptocurrencies.

PayPal already allows users to buy cryptocurrencies on its platform, but this filing suggests something more. The language used in the application covers the broader definition of property. USPTO Licensed Trademark Attorney Mike Kondoudis Said He said on Twitter that the filing is related to NFT and the Metaverse.

We have no proof that this is the case, but it wouldn’t be surprising if it was. The fintech company joins a long list of companies that have started working in the Web3 and metaverse spaces.

PayPal Goes Deep Into Crypto

PayPal has increased its focus on cryptocurrencies over the past two years. First, the company announced that it would allow users to purchase cryptocurrencies on its platform. This was big news for the market.

However, I only recently did it. start to allow Users can transfer those funds to off-platform wallets.late last year, it announced Introduce new crypto-related features. Perhaps NFT Marketplace could be one of those additions.

more soon, has partnered with Coinbase’s TRUST network. Many saw this as justification for the industry. While complying with banking industry travel rules, the TRUST network safety and your privacy.

Criticism of payment giants rises

PayPal is also in the news for all the wrong reasons. The company was recently criticized for its controversial policy of fines users who spread false information. However, crypto enthusiasts were quick to use it as an example of why decentralization is important.

Earlier this year, PayPal also Created Advisory board for cryptocurrencies and blockchain technology. Company executives say it is important to work with governments to overcome challenges and maximize opportunities.

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