Fico, Haribo, Fujitsu, and many other firms are adopting proactive measures to help secure their intellectual property in the NFT and Web3 space using patents. In recent months, patents have become a trendy topic as firms look to gain a competitive edge in the quick-paced blockchain sector.
By filing patents with relevant authorities, these firms can protect their innovations and ensure that they are ahead of all competition. Here are some of the firms that are leading the way in securing their NFT and Web3 intellectual property patents.
Candy maker Haribo is among the firms that have gone digital by filing NFT-related trademark applications.
Why Are Web3 Patents And Trademarks On The Rise?
Web3 businesses are currently running to secure various blockchain-related patents as web3 and digital assets experience a significant resurgence. Notably, firms are striving to secure US and international trademarks or patents related to NFT and blockchain industries. The move is meant to safeguard their intellectual property and enjoy a competitive advantage.
Moreover, this is increasing the potential of exclusive access to collections and events, possibly changing passive users into active players. Based on a statement by the CEO of Web3 tooling platform Kalder, Gökçe Güven, this method of growing engagement and branding loyalty might benefit both big brands and individual NFT creators.
Additionally, the CEO of carbon-backed NFT creator Ecosapiens, Nihar Neelakanti, said that as Web3 projects continue evolving, trademarks and patents are becoming highly important. Notably, they validate the authenticity of nonfungible tokens on the blockchain. With NFTs primarily working as digital proof of ownership, having ideal verification measures set in place can reduce the chances of fraud and, in turn, increase consumer trust.
In that context, firms in the web3 sector are considering trademarks and patents. Eventually, it works as a means of protecting their intellectual property and guaranteeing the integrity of their NFT offerings.
Web3 Patent Scramble
There is a web3 patent rush seen in recent months with firms filing patents to protect their intellectual property within the digital asset space. Among them are well-known businesses that are looking to invest in the nascent space.
It is crucial to note that filing for patents does not mainly mean that a product is imminent. Nevertheless, it is a definitive indication of the interest that these firms have in the Web3 industry and their wish to protect their intellectual property.
First, the German candy maker, Haribo, known for its gummy bears, has decided to act boldly and dive into the NFT space. The firm registered a nonfungible token-related trademark application with the US Patent and Trademark Office (USPTO) on April 25.
Interestingly, it filed for multiple applications. They relate to digital collectibles that come like downloadable multimedia files. They may also consist of “downloadable audio and video recordings, digital avatars and cartoons relating to confectionery.”
Then, Global analytics software company, FICO, recently got 12 patents, some related to web3. Notably, one of them was for its utilization of blockchain for data and model governance. FICO is famous for its FICO Credit Score product. The product is commonly used by lenders to evaluate people’s creditworthiness and determine whether they qualify for credit cards and loans.
Eventually, in March, Japanese electronics firm Fujitsu filed a trademark application. The application covers a huge range of services, including crypto trading. In that context, the filing enables Fujitsu to explore money exchange and digital asset management, coupled with brokerage services for cryptocurrency.
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