More than a thousand Chinese companies have submitted metaverse-related trademark applications despite China’s warning on metaverse and nonfungible tokens.
In a summit, Gou Wenjun, the PBOC’s AML and Analysis Center Director, cautioned about the dangers of digital assets because virtual assets have no physical basis, they can be used for illegal financial activities.
However, ignoring the PBOC’s warnings, Chinese companies rushed to register metaverse-related trademarks such as “metaverse satellite” and “metaverse exhibition. According to reports more than 1,360 Chinese companies submitted 8,534 trademark applications related to the metaverse by Sunday.
Most of the companies that applied for trademark registrations are tech firms. This includes big companies like Huawei and Hisense. The former applied to register “Meta OS” while the latter applied with several trademarks in various areas like social services, advertising and science. Gaming and tech giant Tencent also joined in, having registered almost a hundred metaverse-related trademark applications.
