NFT Trademark Filings in 2022 Surpass Last Year’s Numbers

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The relentless bear market of 2022 has dealt a blow to the overall crypto market, affecting different parts of the industry like DeFi, Web3 games, and even NFTs.

However, it seems that the crypto winter has not been able to deter brands and companies around the world from venturing into the exciting world of NFTs.

United States Patent and Trademark Office attorney Mike Kondoudis shared some interesting numbers on Twitter that indicated continued interest in NFTs.

More than six thousand applications
Kondoudis said that since the start of this year, 6,366 trademark applications for NFTs and related blockchain products have been filed.

This represents an increase of almost 200% compared to trademark applications in 2021, which were 2,142, about a third of this year’s figure.

March saw the highest number of applications, 1080 to be precise. In contrast, September saw 435 requests, making it the lowest of the year.

It is important to note that the number of monthly requests has steadily decreased since March 2022.

This news comes at a critical time with the struggling global NFT, filled with FUD and concerns over the valuation of popular collections.

The fact that interest in NFTs not only sustained the bear market, but also managed to surpass last year’s numbers, will come as a relief to NFT artists and investors.

AMBCrypto earlier reported that NFTs are making inroads in the music industry with popular names like Sony Music filing trademark applications for NFTs.

The Ford Motor Company (NYSE:) has also ventured into the NFT space by filing 19 trademark applications for all of its major brands.

NFT Statistics
The third quarter of 2022 was nothing short of a bloodbath for NFTs. A report by DappRadar noted that NFT trading volume during this period fell to $713 million, down 84% from the previous quarter.

According to data from DappRadar, Solana-based NFT projects fared relatively better in the month of September, managing to hit monthly sales of $133 million, up from $68.5 million the previous month.

Interestingly, Name Service now tops the top collections on DappRadar, in terms of volume, merchants, and sales. Its 30-day volume is up 70% to $31.2 million. Additionally, its sales are up almost 50% from last month, 556,575 to be precise.

Meanwhile, the popular NFT OpenSea market has taken a severe hit this year thanks to the ongoing crypto winter. Trading volume on the platform has fallen more than 90% from its peak in March. Additionally, sales on the platform have consistently dropped for five consecutive months.

Kondoudis also shared that trademark filings related to “digital or cryptocurrencies and related goods/services” exceeded last year’s numbers. 2022 saw 4,317 applications compared to 3,547 in 2021.

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