2022 NFT trademark applications exceed last year’s figure
2022’s ruthless bear market has dealt a blow to the overall crypto market, affecting various parts of the industry such as DeFi, Web3 games and even NFTs.
However, it seems that the crypto winter has not been able to deter brands and companies worldwide from venturing into the exciting world of NFTs.
US Patent and Trademark Office attorney Mike Kondoudis shared some interesting numbers on Twitter that indicated the continued interest in NFTs.
Over six thousand applications
Kondoudis tired that since the beginning of this year, 6,366 trademark applications have been filed for NFTs and related blockchain goods.
This is an increase of almost 200% from 2021’s trademark applications, which were 2,142, about a third of this year’s number.
In the month of March, there was the highest number of applications, 1080 to be exact. September, on the other hand, recorded 435 applications, making it the lowest for the year.
It is important to note that the monthly application numbers have consistently decreased since March 2022.
This news comes at a critical time as the overall NFT has been struggling, filled with R&D and concerns about the valuation of popular collections.
That the interest in NFTs has not only sustained the bear market, but also managed to pass last year’s numbers, will come as a relief to NFT artists and investors.
AMBCrypto reported earlier that NFTs made inroads into the music industry with popular names such as Sony Music filing trademark applications for NFTs.
Ford Motor Company also ventured into the NFT space archiving 19 trademark applications for all its major brands.
NFT statistics
The third quarter of 2022 was nothing short of a bloodbath for NFTs. ONE report published by DappRadar noted that NFT trading volume during this period fell to $713 million, a decrease of 84% from the previous quarter.
In accordance data from DappRadar, Solana-based NFT projects fared relatively better in the month of September, managing to reach $133 million in monthly sales, compared to $68.5 million from the previous month.
Interestingly, Ethereum Name Service now leads the top collections on DappRadar, in terms of volume, resellers and sales. Its 30-day volume is up 70% to reach $31.2 million. Furthermore, sales are up nearly 50% compared to last month, 556,575 to be exact.
Meanwhile, popular NFT marketplace OpenSea has taken a brutal hit this year thanks to the ongoing crypto winter. Trading volume on the platform has fallen more than 90% from its peak in March. In addition, sales on the platform have consistently declined for five consecutive months.
Kondoudis too shared that the trademark registrations relating to “digital or crypto-currencies and related goods/services” had exceeded last year’s figures. 2022 has seen 4,317 applications compared to 3,547 in 2021.
