Major casino and resort companies have filed several trademarks related to the Metaverse. This is the latest.
What happened: casino company MGM Resorts International MGM It is one of the casino companies that recently applied for the Metaverse trademark.
According to trademark filings, MGM may be able to offer downloadable virtual goods, entertainment services, virtual visits to hotels, casinos, nightclubs, restaurants and spas, and virtual concerts and shows.
This trademark includes the possibility of virtual casino chips, gaming tables and slot machines.
Important reasons: The trademark filing could indicate that MGM and other companies are ready to offer virtual casinos, and may launch virtual currencies related to casino activity in the Metaverse.
MGM is the owner of properties in Las Vegas and throughout the United States. The company recently reported that second-quarter revenue was $3.26 billion, up 43.6% year-over-year. MGM’s Las Vegas segment set a record for EBITDAR (excluding interest, taxes, depreciation, amortization, restructuring or rental expenses).
The company offers sports betting and online casinos through its BetMGM joint venture with Entain.
Metaverse trademark filings are on the rise, which could indicate companies are looking to service virtual worlds or are protecting their brands from being used by others.
during February JPMorgan Chase & Company JPM Labeled Metanomics is a trillion dollar opportunity for companies looking to grow within the metaverse.
With companies, cities like Beverly Hills Exploring the possibilities of the Metaverse, The famous shopping city recently filed trademarks for names related to NFTs, digital collections and virtual goods.