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Chinese language Web Big Baidu Registers Trademark

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Regardless of the federal government’s restriction on bitcoin and an imminent ban on the metaverse, Chinese language web firm Baidu introduced on Monday that it has filed its metaverse trademark.

Baidu And The Metaverse Of Xi’rang

In accordance with the newest commerce registration statistics, Chinese language enterprises are hurrying to register logos associated to the metaverse, or Yuanyuzhou in Chinese language, regardless of Beijing’s cautions concerning the dangers related to the novel idea.

Baidu, China’s largest web company, stated earlier as we speak that it has registered its metaverse trademark. Baidu additionally confirmed out a preview of its Xi’rang Metaverse atmosphere.

In accordance with the Securities Day by day, which cited statistics from firm and trademark registration monitoring company Tianyancha, greater than 1,360 Chinese language corporations, principally know-how companies, have registered to register metaverse-related logos as of Sunday, up from solely 130 entities three months in the past.

ETH massacre continues. Supply: TradingView

Aside from Baidu, different well-known companies within the Chinese language web trade have additionally utilized to register their metaverse logos. In accordance with a tweet from Chinese language supply 8BTC, massive manufacturers like NetEase World, Alibaba, TENCENT, and Bytedance – TikTok’s father or mother agency – have utilized for metaverse logos.

Securities Day by day famous that almost all of trademark purposes are at present “pending” or present process “substantive examination.”

Whereas metaverse is shortly turning into the brand new web craze, the Chinese language authorities is at present contemplating increasing its crypto prohibition to incorporate metaverse. Final Monday, the Chinese language official media issued a warning towards metaverse and cloud mining frauds, citing the widespread misuse of Metaverse phrases by con artists.

Associated article | Cardano Founder Says Metaverse Is Necessary For Crypto

Chinese language Firms Are Hustling The Metaverse

In accordance with a Grayscale analysis report launched final month, the variety of Metaverse customers elevated by 10X in only one and a half years. Moreover, the survey anticipated that if the metaverse stored rising at this fee, it can develop into a trillion-dollar sector by subsequent yr. Moreover, in line with Grayscale’s evaluation, Metaverse has the potential to develop into a vital element of Net 3.0, much like how Fb performed a job in Net 2.0.

The metaverse, which many see as the subsequent iteration of the web, presents a lifelike, immersive digital world the place individuals can meet, work, and play. Cryptocurrency is used to make transactions and purchases of digital merchandise within the metaverse, that are backed by non-fungible tokens (NFTs) or different digital belongings.

Even though Chinese language corporations are speeding to undertake the idea, the Chinese language authorities has maintained a cautious stance, as acknowledged in state-run media commentators.

Folks’s Day by day issued a brand new warning concerning the metaverse on December 9, claiming that “digital property” gross sales posed risks of volatility, fraud, illicit fundraising, and cash laundering.

Final week, telecommunications large Huawei Applied sciences Co and Hisense, China’s largest tv producer, joined the metaverse bandwagon.

Huawei filed a trademark software for Meta OS, and Hisense filed trademark purposes for a number of metaverse logos in industries akin to promoting gross sales, social providers, and scientific devices.

Associated article | A Wave Of New Blockchain Video games Are Accelerating Mainstream Adoption Of Collectibles And NFTs

Featured picture from Unsplash, chart from TradingView.com

 



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