Meta, formerly known as Facebook, intends to strengthen its position in the Web 3 space. The social media behemoth has applied for eight trademarks to offer Web 3 services, including a dating app tailored to cryptocurrency investors. Meta's efforts to strengthen its position in the crypto and metaverse worlds will benefit from the move. Cryptocurrencies and non-fungible tokens (NFTs) will be key aspects of blockchain-based Web 3, the next phase of the Internet as we know it, which will boost the metaverse sector.
Meta is seeking to bring in new blockchain-based products and services in order to match with the Web 3 market.
According to CoinTelegraph, the company's future goals include the launch of new social networking platforms, computer software, e-commerce services, digital asset holders' telecom services, and a metaverse-focused advertising platform.
Meta is also interested in Virtual Reality (VR)-enabled entertainment and digital publishing services, as well as a line-up of VR wearables.
Meta is also exploring developing software for e-wallets. However, the corporation has not made any official announcements about its trademark filings. It could take months for Meta to receive permission.
Mark Zuckerberg, the CEO of Meta, announced this week that Instagram will soon have NFT-related functionality.
Without going into specifics, the tech entrepreneur stated that Instagram users will be able to mint their own NFTs "hopefully" in the coming months.
Meanwhile, numerous additional brands have submitted trademark applications in the US for the Web 3 space in recent days. American Express, Slim Jim, and the New York Stock Exchange are among them.