Chinese firms scramble to register metaverse trademarks despite Beijing’s warnings of risks
- The number of individual metaverse-related trademark applications had reached 8,534 by Sunday, as it is common for businesses to apply for multiple trademarks
- Telecoms giant Huawei and Hisense, China’s largest television brand, also jumped onto the metaverse trademark bandwagon last week
Chinese businesses are rushing to register trademarks related to the metaverse, translated as Yuanyuzhou in Chinese, despite Beijing’s warnings over risks associated with the new concept, according to the latest trade registration data.
As of Sunday, more than 1,360 Chinese companies, mainly technology firms, have applied to register metaverse-related trademarks, a big jump from three months ago when only 130 companies had filed such applications, the Securities Daily reported on Monday, citing data from business and trademark registration tracking firm Tianyancha.
The number of individual metaverse-related trademark applications as of Sunday had reached 8,534, as it is common for businesses to apply for multiple trademarks.
For example, NetEase, China’s second largest video games company after Tencent Holdings, has applied to register 26 trademarks related to metaverse, including names such as “metaverse satellite” and “metaverse exhibition”, the report added.
Most of the trademark applications are currently “pending ” or undergoing “substantive examination”, the newspaper said.
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Telecommunications giant Huawei Technologies Co and Hisense, China’s largest television brand, also jumped onto the metaverse bandwagon last week.
Huawei applied to register Meta OS and Hisense applied for several metaverse trademarks in fields like advertising sales, social services and scientific instruments.
Online video platforms Kuaishou and iQiyi, as well as electric carmakers Xpeng and Li Auto, have also sought to register their own metaverse trademarks in recent months.
Although Chinese firms are rushing to embrace the concept, the Chinese government has maintained a cautious attitude, as expressed by commentaries in state-run media.
The article further noted that China has not provided clarity on regulations, or the legal nature of NFTs, and that transactions made with other digital assets are not supported by laws in China or other countries.
Last month, People’s Daily warned against what it saw as a market frenzy, saying “everyone still needs to stay rational in understanding the current metaverse mania”.