As the cryptocurrency market expands, so does one major part of it that is increasingly leveraged by companies and individuals seeking to interact with their audience in more ways – non-fungible tokens (NFTs).
Indeed, NFT-related trademarks in the United States surpassed 4,000 from January 1 to May 31, 2022, according to the data and chart published by trademark and patent attorney Michael Kondoudis (The Law Office of Michael E. Kondoudis) on June 13.
Specifically, the precise number is 4,049, which means that, on average, 27 new NFT trademarks were filed per day in 2022. Kondoudis’s tweet also compared the data from the same period in 2021, when only 363 of these trademarks were filed with the U.S. Patent and Trademark Office (USPTO).
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As for 2022, the most productive month was March, when 1,023 new NFT trademarks were registered. January saw the lowest number of all the months observed so far – 637, while there were 770 new trademarks in February, 876 in April, and 743 in May.
Rapid growth of NFT market
It is worth noting that in mid-February, Finbold reported that the number of NFT trademark applications in the U.S. in 2021 stood at 1,263, representing a 421-fold growth from mere three filings in 2020.
The current growth is 1,349 times compared to the entire 2020 and has already surpassed the entire 2021, despite 2022 only halfway gone.
That said, a new survey has shown that the primary reason most people purchase NFTs is “to make money.” Specifically, 64.3% of the 1,318 persons polled said this was their main reason for jumping on the NFT bandwagon.
Other reasons included community and flexing (14.7%), collecting digital art (12.4%), and accessing games and tools (8.6%).
