American Express Plans To Join Metaverse And Web3 World
Licensing trademark attorney Michael Kondoudis tweeted on his Twitter page that American Express had filed a trademark app for the Metaverse and NFT logos. Thus, we will see American Express joining Metaverse and Web3 world sooner or later.
The app includes American Express, AMEX, Centurion, Shop Small, and Membership Rewards. The company follows its financial rivals Visa, JPMorgan, and Mastercard in its understanding of Web3.
U.S. Patent and Trademark Office filings on March 9 show how American Express can expand its footprint in the virtual world, making future versions using virtual reality (VR) and augmented reality (AR) headsets potentially more physical. Immersive.
American Express also seeks to obtain software for credit cards, travel, concierge services, entertainment, virtual entertainment environments, and NFT markets.
The company also announced plans to provide wallet services, virtual currency exchanges, and digitized token and utility token trading services for digital and blockchain assets. These plans are also included in the filing.
On the other hand, American Express may be a bit late. Some of its main competitors have already gone upside down in web3. Take Visa, which comes out in August 2021.
Visa announced on August 23, 2021, in a tweet about the partnership between the company and CryptoPunk #7610.
Thus, it was the first step for financial companies into the crypto world, and there is more to come.
Mark Zuckerberg Says Instagram Will Soon Add NFTs
Meta CEO Mark Zuckerberg has announced that Instagram is preparing to add non-fungible tokens (NFTs) to the platform.
At the South by Southwest conference in Austin, Texas, Zuckerberg reportedly said they would bring NFTs to Instagram shortly. The Facebook founder did not provide any precise information on when the implementation will occur.
Casey Newton, the author of the Platformer newsletter, tweeted at the conference that Zuckerberg also said he expects Instagram users to create their own NFTs on the platform in the coming months.
Meta did not immediately reply to Cointelegraph when the NFT feature went live.
Last October, the famous Meta changed its name from Facebook to focus on projects related to the Metaverse. The company’s report for the final quarter of 2021 showed for the first time that financial details for its virtual and augmented reality research and development business Reality Labs showed losses of more than $10 billion. However, to be fair, the Metaverse corner of Meta isn’t live yet, so it’s hard to take advantage of it.
After Twitter’s famous decision to support NFT profile pictures in January, the social media company has experimented with implementing cryptocurrencies and NFTs into its platform.
It’s not just social media giants looking to get in on the action provided by cryptocurrencies. Trademark filings show traditional financial firms offering interest in the space. Major credit card company American Express hinted at its expansion into Metaverse.
MODEX Token Redesigned With New Web3 Features
Modex, a leading provider of blockchain-based solutions, has announced the launch of its revamped MODEX token. The token is now available for purchase on Bittrex Global, Digifinex, Uniswap. These platforms feature a new token economics model an updated roadmap, Designed to add Web3 functionality to Modex networks.
The launch of the improved MODEX token and its Web3-inspired roadmap resulted from Modex’s experience in the enterprise blockchain space over the past few years. With this launch, the company intends to pioneer Web3 capabilities by leveraging its Enterprise Token Web3 concept to best meet market needs and trends.
Modex recently received Silver Cloud Platform Competency in the Microsoft Partner Network. This achievement demonstrates the company’s high standards of technical performance and quality of service.
The MODEX token was first launched in 2018 as part of an ICO supporting the company’s innovative contract marketplace project. However, the smart contract market performed differently than Modex initially predicted. Thus, the company shifted its focus to the enterprise space. They have amassed valuable technical and business knowledge and developed its flagship Blockchain Database® (BCDB) technology.
The innovative solution will remain a key component of Modex’s technology plans, including its Web3 network and new enterprise products and services.
Modex values its existing token customers and believes full transparency is the only way to strengthen this relationship. The revamped MODEX token brings a host of new products, an updated white paper, an upcoming sustainable token economics model, and transparency on the token pool and the company’s next steps.
The roadmap also includes engagement mechanisms to be implemented next month. Additionally, the roadmap notifies us about the planned release details for related software products expected in early Q3 2022.
Bitcoin Jumps Above $41,000
Bitcoin’s sudden surge on Wednesday took the most prominent cryptocurrency out of the tight range it has been in for most of the past week.
Bitcoin surged 5.7% to $41,691 before giving up all gains to trade at $39,540 at 2:55 p.m. Not much changed in Hong Kong that day. Other coins like Ether and Solana also saw short gains. Stocks in China rallied as Beijing pledged to boost financial markets.
Edul Patel, the co-founder of automated digital trading platform Mudrex, attributed the short-lived spike to retail investor speculation that the Fed would raise interest rates less than expected.
Bitcoin has been in its tightest trading range over the past few days since October 2020. Some market watchers attribute the phenomenon to long-term holders, jumping into buying as the coin falls. Meanwhile, selling by short-term investors has prevented Bitcoin and other digital assets from generating sustained gains.