Chinese internet company Baidu announced that it has registered its metaverse trademark, the decision came to life despite the government’s ban on cryptocurrency and an impending ban on the metaverse.
People in China are expanding their metaverse even though the government has warned them not to. Baidu, China’s most popular internet company, said this morning that it had registered its metaverse trademark. Xi’rang, Baidu’s Metaverse world, was also shown off in a small way, as well.
Chinese Internet giant Baidu’s #Metaverse world: Xi’rang pic.twitter.com/nAKVr7UmNu
— 8BTCnews (@btcinchina) December 20, 2021
Baidu isn’t the only big name in China’s internet industry that wanted to get their own metaverse trademarks. Companies like NetEase Global and Alibaba have applied to trademark the term “metaverse,” a Chinese insider says in a tweet. Bytedance – the parent company of TikTok – has also applied for the trademark.
Chinese Internet giant @NetEase_Global applied for trademarks related to #Metaverse . Earlier, big names like Baidu, #Alibaba , #TENCENT and Bytedance ( #TikTok parent company) all have applied for metaverse trademarks.
— 8BTCnews (@btcinchina) December 20, 2021
The Metaverse’ rising growth
Metaverse is quickly becoming the new internet craze. China, which has a very powerful government, is now trying to ban crypto in the metaverse as well. There were a lot of Metaverse-related scams last week, so the Chinese state media warned people not to fall for them.
Grayscale released a report last month that said the number of Metaverse users grew by 10X in just over a year and a half. Also, the report said that if the metaverse kept growing at this rate, it would most likely become a trillion-dollar business by the end of next year.
It’s also said in Grayscale’s report that Metaverse could be the key to Web 3.0, like how Facebook was the key to Web 2.0.
“The Web 2.0 mobile internet changed how, where, when, and why we used the internet. In turn, this changed the products, services, and companies we used, which changed our business models, culture, and politics – the Web 3.0 Metaverse has the potential to do the same.”
