The ruthless bear market of 2022 has hit the entire cryptocurrency market, impacting various parts of the industry including DeFi, Web3 gaming, and even NFTs.
However, the crypto winter seems to have failed to deter brands and companies around the world from venturing into the exciting world of NFTs.
U.S. Patent and Trademark Office Attorney Mike Kondoudis shared some interesting numbers on Twitter that show the continued interest in NFTs.
Over 6,000 applications
kondodis said Since the beginning of the year, 6,366 trademark applications have been filed for NFTs and related blockchain products.
This is almost a 200% increase from 2,142 trademark applications in 2021 and about one-third of this year’s figure.
March had the most applications, 1080 to be exact. In September, on the other hand, he recorded 435 applications, the lowest for the year.
It is important to note that the number of monthly applications has consistently decreased since March 2022.
The news comes at a crucial time when the NFT as a whole is struggling and riddled with FUD and concerns about the valuation of popular collections.
The fact that interest in NFTs not only maintained a bear market, but surpassed last year’s numbers, should be reassuring to NFT artists and investors.
AMBCrypto report Before that, there were big names such as NFT entering the music industry and Sony Music filing a trademark application for NFT.
Ford Motor Company also filing 19 trademark applications for all major brands.
The third quarter of 2022 was nothing short of an NFT carnage.a report Published by DappRadar.
according to data According to DappRadar, Solana-based NFT projects performed relatively well in September, reaching $133 million in monthly revenue, compared with $68.5 million the previous month.
Interestingly, the Ethereum name service currently leads the top DappRadar collections in terms of volume, traders, and revenue. 30-day volume increased 70% to reach $31.2 million. Additionally, sales have increased by almost 50% compared to last month, to be exact 556,575.
Meanwhile, popular NFT marketplace OpenSea has been hit hard this year thanks to the ongoing crypto winter. Trading volume on the platform has dropped more than 90% from its March highs. Additionally, sales on the platform have consistently declined for his fifth straight month.
Kondodis too share Trademark filings related to “digital or cryptocurrencies and related goods/services” surpassed last year’s numbers.