- OpenSea, the leading NFT market, aims to expand with trademark applications for NFTs and cryptographic services.
- OpenSea owners Ozone Networks, Inc. have filed a trademark application to register OpenSea and its logo.
- The recovery of NFT activity in April could be a better time for OpenSea and other NFT marketplaces.
It was an impressive start to 2022 for OpenSea. NFT Trading volumes hit a record high in January.
However, in February and March, trading volumes fell sharply.
DC Trademark Attorney Michael Kondoudis twitter We will announce the trademark submitted on Wednesday.
▶ ️ OpenSea
▶ ️ The yacht logo
✅ Cryptocurrency wallet
✅ NFT + NFT Minting
✅ Cryptocurrency + digital collectibles
✅ Digital, virtual and cryptocurrency transactions#NFT # Cryptocurrency # High seas #OpenSeaNFT pic.twitter.com/w53Ztw6kD3
— Mike Kondoudis (@KondoudisLaw) April 20, 2022
OpenSea owner Ozone Networks, Inc. filed two new trademark applications on the register of OpenSea and its logo on April 15, 2022.
Filing covers a variety of virtual, crypto, and financial products and services. These include
- Cryptocurrency And digital asset wallet
- NFT and NFT Minting
- Cryptocurrencies, digital tokens, and digital collectibles
- Trading digital, virtual and cryptocurrencies
Kondoudis gave his opinion,
“OpenSea seems to be sensitive to competition and is preparing trademarks and brands for more active participation in the Metaverse virtual economy.”
“As brands become aware of the need to protect virtual and crypto financial services, will the number of NFT, crypto, and virtual asset products and services trademark applications from the financial services sector go up to 12? Expected to increase in the month. “
OpenSea’s trademark application coincides with the launch of Coinbase NFT
From the beta, it has been reported that only a handful of features are available to users.Built on Ethereum BlockchainCoinbaseNFT competes with OpenSea by not charging transaction fees for a limited time.
In the case of OpenSea, 2022 was mixed and trading volumes were hit in February and March.
February ETH trading volume fell to $ 3.58 billion, continuing to exceed the previous ATH in August.
However, ETH trading volumes were hit hard in March.
According to Dune Analytics, ETH trading volume fell to $ 2.49 billion in March, well below $ 3.42 billion in August and $ 4.97 billion in January.
In the case of OpenSea, several factors may contribute to the declining trend in trading volume. These may include increased crypto prices, increased illegal activity, and increased desire for cryptocurrencies.
Another factor could be the increase in the number of NFT marketplaces.
This year, LooksRare (Appearance) Released in January, trading volume in January Reportedly It exceeds the trading volume of OpenSea. CoinbaseNFT could be OpenSea’s biggest short-term rival, but other marketplaces were launched prior to the launch of CoinbaseNFT.