Chinese tech conglomerate Tencent has filed for a virtual concerts patent with the Chinese National Intellectual Property Administration (CNIPA) according to business data-tracker Qichacha. The application comes as Chinese companies race to secure Metaverse trademarks.
Even though the People’s Bank of China (PBoC) took a strong stance against the Metaverse and nonfungible tokens (NFTs) in November, stating that it would track them with Anti-Money Laundering tools, more than a thousand Chinese companies have submitted over 16,000 metaverse-related trademark applications according to a report from Chinese news outlet, The Paper.