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Matter Labs drops ZK trademark applications after industry backlash

It follows a public letter from ZK researchers and top industry experts slamming the firm for “oppressive behavior.”

Matter Labs, the team behind Ethereum layer-2 scaling solution zkSync, has dropped all attempts to obtain intellectual property rights to trademark the term “ZK” — short for “zero knowledge” proofs.

Its decision came three days after several leading ZK researchers condemned the firm’s behavior “in the strongest possible terms,” iterating that ZK technologies should instead remain a “public good” that is “accessible to all.”

“As a result of these conversations, we decided to drop all trademark applications,” Matter Labs confirmed in a June 2 X post.

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Bitcoin Magazine claims Fed accused it of trademark violation for t-shirts

Crypto publication Bitcoin Magazine claims it has been threatened with legal action over “FedNow” t-shirts, hats, and other items.

The United States Federal Reserve has sent a cease-and-desist letter to crypto media publication Bitcoin Magazine, accusing it of trademark violations, according to a Nov. 3 post from the publication. Bitcoin Magazine claims it is being targeted because of its use of the word “FedNow” on “t-shirts, hats, and other wearables.” FedNow is the trademarked name of the Federal Reserve’s instant payment system.

Bitcoin Magazine carries some merchandise in its store that features the word “FedNow” printed on it, but with the “O” in the word having been replaced with an image of an eye.

Bitcoin Magazine FedNow T-shirt. Source: Bitcoin Magazine.

According to the post, the Fed claimed these items “mislead readers into believing a connection exists between the publication and the central bank.”

In response, Bitcoin Magazine’s legal team sent a letter to the Federal Reserve denying the allegation. The merchandise is “undeniably parodic in nature,” the letter stated, as it was created “for the purpose of parody and political criticism directed at the Federal Reserve.” 

As evidence for this, the letter pointed to the image of an eye found in the designs, which it referred to as a “surveillance eye.” In a separate open letter referenced in the post, Bitcoin Magazine referred to the eye as an “all-seeing eye that symbolizes the state of total financial surveillance that [the Federal Reserve] is seeking to impose on the American financial system.”

The term “all-seeing eye” or "Eye of Providence" refers to a symbol found in Jacopo Pontormo’s 1525 painting, Supper at Emmaus, and later featured on the back side of a U.S. 1-dollar bill.

Eye of Providence on the back of a U.S. 1-dollar bill. Source: Wikipedia.

In its post, Bitcoin Magazine stated that it would not stop printing or selling its “FedNow” line of merchandise, as it believes the items constitute protected free speech under the First Amendment.

FedNow is an interbank payment system launched by the Federal Reserve in July. It allows banks and money transmitter services to make payments instantly, without needing to rely on the automated clearing house (ACH) system used in the past. Bitcoin Magazine has heavily criticized FedNow in its articles and videos, claiming that it is a “scam” that allows the government to “keep controlling you, your business, and everyone else’s.”

Related: FedNow showcases DLT-powered payments system as service provider

FedNow has also been criticized by presidential candidates Ron Desantis and Robert Kennedy, Jr. They claim it's paving the way for a future central bank digital currency (CBDC), which they say will violate the privacy of Americans. The Federal Reserve has denied that its service has anything to do with a CBDC.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Payments Giant Mastercard Files Trademark for Set of Crypto and Blockchain Tools

Payments Giant Mastercard Files Trademark for Set of Crypto and Blockchain Tools

Payments processing giant Mastercard is filing a trademark application for a number of crypto blockchain tools in its latest advancement in the digital asset space. According to the U.S. Patent and Trademark Office application, Mastercard intends to introduce software for crypto transactions and create links between virtual asset service providers. Says the trademark filing, “MASTERCARD […]

The post Payments Giant Mastercard Files Trademark for Set of Crypto and Blockchain Tools appeared first on The Daily Hodl.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Mean Girls set to make Web3 comeback as “crypto-collectibles”

Newly filed trademarks from Paramount Pictures suggest elements of the teen cult classic may come back in the form of "crypto-collectibles" and non-fungible tokens (NFTs).

According to tweets shared by licensed trademark attorney Mike Kondoudis, Paramount Pictures filed two trademark applications on Sept. 7 for the early 2000s teen comedy which stars former Disney actress Lindsay Lohan.

The trademark applications cover“downloadable multimedia files containing artwork” which are authenticated by nonfungible tokens (NFTs), as well as “downloadable virtual goods” including crypto-collectibles and NFTs.

The application also covers transferring and accessing crypto-collectibles, NFTs, and “application tokens.”

Mean Girls is a 2004 teen comedy film that later developed a significant cult following, spawning countless fan-made memes and reaction GIFs. It’s considered one of the most quotable movies of all time and has even spawned a national Mean Girls Day every year on Oct 3. 

The application follows closely only a day after mass media conglomerate Viacom International filed a similar trademark application aimed at expanding The Teenage Mutant Ninja Turtles brand into the virtual world.

The number of companies filing trademarks for crypto-collectibles, non-fungible tokens (NFTs), and the Metaverse is continuously growing.

Recently, Cointelegraph reported that the number of trademarks filed in the Web3 space was on course to surpass that of 2021, as more companies are expected to join in the rush to secure a piece of the web3 pie.

Related: Iconic brands including Nike, Gucci have made $260M off NFT sales

Recent trademarks in the NFT and Metaverse space ranges from luxury designer brands, such as Hérmes to Sony Music Entertainment, to race car brand Formula One.

Data published by Dune Analytics report that high-profile brands such as Nike, Gucci, Dolce & Gabbana, Adidas, and Tiffany & Co. have already amassed a combined $260 million from sales of NFTs, making the adoption of NFTs a highly lucrative and profitable addition to existing brands looking to expand into Web 3.

American teen comedy Mean Girls (2004) may soon be making a Web3 comeback, with recent trademark filings by Paramount Pictures revealing plans to expand the brand into “crypto-collectibles.”

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Ford prepares to enter the Metaverse with virtual automobiles and NFTs

A trademark application covering its future efforts in the Metaverse and NFT space comes only a month after the company announced huge staff cuts.

United States Patent and Trade Office (USPTO) licensed trademark attorney Mike Kondoudis revealed in a Sept. 7 tweet that the company had filed a total of 19 trademark applications covering its car brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning, among others. 

The trademark applications cover virtual cars, trucks, vans, SUVs and clothing, for its brands and also cover a proposed online marketplace for NFTs. 

According to USPTO documents filed by Ford on Sept. 2, the car manufacturer plans to create downloadable artwork, text, audio, and video featuring its cars, SUVs, trucks, and vans which will be authenticated by NFTs.

The company also revealed plans for “downloadable virtual goods” namely, “computer programs” featuring vehicle parts and accessories and clothing for use in “online virtual worlds,” including online trade shows conducted in virtual reality and augmented reality.

There are also intentions to create a marketplace to promote the “digital artwork of others” through a website, along with “online retail store services featuring non-fungible tokens (NFTs) and digital collectibles.”

Related: Lamborghini-backed GT racing team to authenticate car parts using NFTs

Ford’s decision to enter into the Web3 space comes less than a month after Ford Executive Chairman Bill Ford and CEO Jim Farley announced massive staff cuts from its global workforce to reduce company expenditure.

Ford is not the first car company to make a move into the Metaverse space.

American car manufacturer Ford Motor Company is the latest car brand prepping its entry into the world of non-fungible tokens (NFTs) and the Metaverse — filing 19 trademark applications across its major car brands. 

Automobile companies like Nissan, Toyota, and Hyundai have announced plans to expand into the rapidly growing Metaverse space, while luxury car manufacturers such as Bentley and Lamborghini have already rolled out NFT collections.

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Hermès reveals plans for Metaverse fashion shows, crypto, and NFTs

The trademark application comes months after filing a lawsuit against NFT project MetaBirkins for allegedly using its Birkin brand to sell digital collectibles.

Luxury brand Hermès is laying the groundwork for its entrance to Web3 after filing a trademark application covering NFTs, cryptocurrencies, and the Metaverse. 

According to an Aug. 26 filing to the United States Patent and Trademark Office (USPTO), the trademark covers downloadable software to view, store and manage virtual goods, digital collectibles, cryptocurrencies, and NFTs “for use in online worlds.”

It also filed trademarks for “retail store services featuring virtual goods” as well as fashion and trade shows in “online virtual, augmented or mixed reality environments” and for “providing an online marketplace for buyers and sellers of virtual goods.”

The new trademark application comes months after filing a lawsuit against Metabirkins founder, Mason Rothschild in January for allegedly using the brand's Birkin name to make money from sales and resales for his NFT Metabirkins collection.

In a 47-page legal complaint against Rothschild, Hermés alleged that the “MetaBirkins brand simply rips off Hermés’ famous Birkin trademark by adding the generic prefix ‘meta’ to the famous trademark Birkin”, thereby creating the illusion that the MetaBirkins brand was a part of the luxury Hermés’ Birkin brand.

Related: Metaverse is a key factor in long-term NFT success, says new research

The lawsuit against Rothschild could be one of the reasons why the company has gone ahead to file its own protections that will cover the Metaverse, crypto, and NFT-related products and tokens.

The luxury brand is neither the first or the likely the last to make moves in the Metaverse.

Earlier this year, Decentraland’s Metaverse Fashion Week, a four-day digital fashion event featuring wearables on virtual runways saw the appearance of luxury brands including Dolce & Gabbana, Etro, Tommy Hilfiger, Estée Lauder and Elie Saab.

Last month, data from Dune Analytics revealed that leading brands including Nike, Gucci, Dolce & Gabbana, Adidas, and Tiffany had amassed a combined $260 million worth of sales from NFTs.

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Merch and perfume: Formula One trademark filing paves the way for F1 NFTs

F1 files trademark for 2023 Las Vegas Strip Circuit Grand Prix, listing NFTs and cryptocurrency in a variety of potential goods and services on offer.

Formula One could introduce nonfungible tokens (NFTs), digital collectibles and cryptocurrency payment support ahead of the inaugural Las Vegas Grand Prix in 2023.

F1's trademark department registered two new trademark filings with the United States Patent and Trademark Office on August 23. The filings outline the trademark and logo for the Las Vegas Strip Circuit and a wide-ranging list of goods and services that the event intends to offer during next year’s race.

Of particular interest were specific mentions of NFT and cryptocurrency-related offerings as well as blockchain-powered transactional services. The filing notes NFTs that will represent ownership of a wide variety of real-world items, including vehicle equipment, decorative items, clothing, bags, wallets and even "perfumery."

The filing also notes "downloadable computer software for managing cryptocurrency transactions using blockchain technology," potentially suggesting that the race and its organizers are gearing up to support cryptocurrency payments.

This is further illustrated by another clause describing financial goods and services covering the breadth of cryptocurrency and blockchain-based payment systems:

“Financial services including e-wallets and cryptocurrency; electronic transfer of crypto assets; currency exchange services; currency trading; virtual currency services; electronic funds transfer provided via blockchain technology; financial transactions via blockchain; cryptocurrency services, namely, providing a digital currency or digital token for use via a global computer network; provision of tokens; provision of non-fungible tokens.”

The provision of cryptography software is also present, with both filings listing downloadable software for processing cryptocurrency transactions using blockchain technology.

Cointelegraph has reached out to the Formula One trademark department to ascertain the finer details of the filing for the Las Vegas Grand Prix and whether the extensive list of goods and services signal confirmation of intent for NFT and cryptocurrency offerings.

Related: Uncertainty around French laws prompted F1 racers to remove crypto branding: Report

Formula One has been a major advertising platform for various cryptocurrency exchanges over the past few years. Crypto.com’s branding has been prominently visible on F1 track advertising boards worldwide for the past year after becoming a global partner of the roadshow. As previously reported, several exchanges and cryptocurrency firms sponsor F1 teams, with eight of the 10 teams backed by industry participants.

The Sin City is set to host its first-ever Formula One race after the much-loved motorsport group announced in March 2022 that Las Vegas would be the newest addition to the race calendar in 2023.

That leaves a little over a year until the first race cruises through the Las Vegas Strip in a night race that will become the third stop in the United States for the F1 roadshow next November.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Kanye West Files Trademarks Describing NFT Technology After Denouncing the Digital Collectible Concept

Kanye West Files Trademarks Describing NFT Technology After Denouncing the Digital Collectible ConceptAccording to trademark filings with the United States Patent and Trademark Office (USPTO), the American rapper Ye (commonly known as Kanye West) is getting into the world of non-fungible tokens (NFTs) and the metaverse. The record producer’s company Mascotte Holdings Inc. filed 17 trademarks, and parts of the trademark summaries describe digital collectibles like NFTs. […]

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Meta trademark filing hints at plans for crypto payments platform

The five applications suggest the social media firm may use its namesake in a payments processing platform called Meta Pay.

Social media giant Facebook's parent company, Meta, may be planning to launch a payments platform with support for cryptocurrency. 

According to records submitted to the United States Patent and Trademark Office, or USPTO, on May 13, Meta filed five applications for its namesake to be used in a platform called Meta Pay. The filings included Meta’s name for use in a “online social networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digitized assets, digital tokens, crypto tokens and utility tokens.”

In March, Meta filed eight trademark applications with the USPTO related to Metaverse and blockchain technology. CEO Mark Zuckerberg also said on May 9 that the company had begun testing digital collectibles on Instagram, signaling a move toward adding nonfungible tokens, or NFTs. Meta currently controls several major apps including WhatsApp, Facebook Messenger and Facebook.

Other companies based in the United States including Gatorade producer Stokely-Van Camp, the Air Force, the New York Stock Exchange, and Mastercard have filed similar applications related to possible entries into the Metaverse or otherwise expanding into the crypto space. According to the USPTO website, trademark applications take roughly eight months to process the first action as of March.

Related: Meta’s Reality Labs posts $2.9B loss: ‘I recognize it’s expensive,’ says Zuck

Since rebranding from Facebook to Meta in October 2021, the social media giant has announced many initiatives seemingly aimed at extending a hand to crypto users. In addition to its work online, Meta also recently expanded its real-world presence with the opening of a brick-and-mortar metaverse-themed retail store in the San Francisco Bay Area.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?