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| Companies have started to register trademarks related to the metaverse. |
In 2021 and early 2022, the metaverse gained immense popularity, with companies worldwide developing business and marketing strategies around this technology. Facebook Group even changed its name to Meta Platforms Inc., signaling its intention to launch its own official version of the metaverse.
Unfortunately, the crypto industry experienced a bear market, leading to a substantial decline in interest in the metaverse in recent months. Data from the US Patent and Trademark Office, shared by trademark expert Mike Kondudis, supports this claim.
The number of new metaverse-related trademark applications in the United States has been significantly lower compared to last year. It's approximately half the amount observed in 2022, with a total of 2,271 applications submitted since the beginning of the year.
Interestingly, August surpassed July in terms of registered trademarks related to the metaverse, with 258 and 214 new trademarks respectively.
March stands out as the best month for applications, with 401 new trademarks registered. In the remaining months of 2023, the number of applications ranged from 265 to 296, displaying a clear downward trend over several months.
Notably, this declining trend also reflects in Google searches for the term "metaverse." Interest surged in October 2021, reaching a record high during the first week of January 2022 (January 2 to 8). However, global interest in the metaverse has been steadily decreasing since then.
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| The number of searches for the word "metaverse" has increased over the past 3 years worldwide. Source: Google Trends. |
As interest and acceptance wane, many cryptocurrencies associated with the metaverse have experienced significant losses in value and market capitalization.
