Meta, formerly Facebook, is planning to escalate its position in the Web 3 sector. The social networking giant has filed for eight trademark applications to operate Web 3 services, including a dating app, especially designed for crypto investors. The move comes in favour of Meta’s efforts to strengthen its position in the crypto and metaverse spheres. Blockchain-based Web 3, that is the next phase of Internet as we know today, will have cryptocurrencies and non-fungible tokens (NFTs) as integral elements, that will together enhance the metaverse sector.
Its future plans include the launch of new social networking platforms, computer software, e-commerce service, telecom services for digital asset holders, and metaverse-focussed advertising platform, CoinTelegraph reported.
In addition, Virtual Reality (VR)-supporting entertainment and digital publishing services along with a line-up of VR wearables are also on Meta’s radar.
Meta is considering to create a software for e-wallets as well. The company has not, however, officially announced any details about its trademark filings. It could be months before Meta gets its approvals.
The average time for the US Patent and Trademark Office to review an application is about nine-and-a-half months, as per a report by CoinTelegraph.
Without getting into elaborate details, the tech mogul said that Instagram users will get to mint their own NFTs on the app “hopefully” in the months to come.