The China National Intellectual Property Administration has rejected several trademark applications. The documents provided contained the word ‘metaverse’, according to the South China Morning Post (SCMP).
According to the report, the refusals affected internet company NetEase, video-streaming provider iQiyi, and social-commerce platform operator Xiaohongshu. Applications from tech giants, including Tencent and Alibaba, are still under review.
The publication cites a report from the subsidiary of Shanghai United Media Group, according to which about 1,510 mainland Chinese companies filed for metaverse-related trademarks. Four months ago, their number stood at around 130, SCMP notes.
Experts say the authorities may be seeking to dampen potential hype around the high-tech sector.
“I see that the government is encouraging companies to enter the metaverse arena with real technological capabilities,” said a PatSnap representative in a comment to the SCMP.
At the end of 2021 it became known that online retailer Alibaba registered in Beijing a ‘subsidiary’ Yuanjing Shengsheng, which will test the gaming potential of the metaverse. According to reports, Huawei was also interested in the concept.
Earlier, Chinese authorities described non-fungible tokens and metaverses as potential Ponzi schemes.
Grayscale Investments forecast annual revenue growth of the Web 3.0 metaverse sector to $1 trillion.
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