On October 29, a day after Facebook announced its name change, Chinese search engine giant Baidu registered a trademark of the term âmetaappâ.
Chinese gaming giant NetEase has also filed âdozensâ of trademark applications related to the metaverse, according to the SCMP.
Alibaba has also registered several trademarks, including “Ali Metaverse”, related to the buzzword.
Chinese tech giants are acquiring metaverse-related brands as competition for space intensifies – even though the government has warned of the futuristic concept.
On October 29, a day after Facebook – which is banned in China – announced its name change to Meta, Chinese search engine giant Baidu applied the term “metaapp” to the brand. Baidu registered the term in the categories of scientific instruments and design research, the South China Morning Post (SCMP). Baidu declined to comment on Insider.
Meanwhile, Chinese gaming giant NetEase has also filed âdozensâ of trademark applications related to the metaverse, the SCMP reported, citing information from China’s Qichacha business registration tracking platform. Trademark terms in Chinese include “NetEase metaverse” and those related to its AI and game units, such as “Fuxi metaverse” and “Leihuo metaverse”.
The apps cover various categories, including design research, communication services, education and entertainment, the Hong Kong newspaper reported. NetEase did not immediately respond to Insider’s request for comment.
Nasdaq-listed NetEase and Baidu aren’t the only ones hitting the bandwagon. Tencent and ByteDance have both taken steps in space. E-commerce giant Alibaba has also registered several trademarks, including “Ali Metaverse”, related to the buzzword.
The term âmetaverseâ refers to shared virtual spaces that people can access through the internet using VR and AR devices. The tech buzzword was brought into the limelight when Facebook announced its name change to Meta to reflect the focus on the concept.
More than 400 companies in China have so far registered trademarks for metaverse-related terms, according to a report by The Chinese edition of the Wall Street Journal Wednesday.
It is a race at the forefront of space, which Bloomberg Intelligence estimates could reach $ 800 (AUD 1,081 billion) by 2024.
Officially, however, China may not be so enthusiastic about the Metaverse. In an October research note, the state think tank China Institutes of Contemporary International Relations (CICIR), which is affiliated with China’s Ministry of State Security, warned of the related national security concerns. to the metaverse, reported the SCMP.
“There could be regulatory gaps in areas such as the fight against money laundering, sanctions, financial supervision and the protection of intellectual property rights, which will prompt the international community to explore cooperation,” he said. writes the CICIR, according to the SCMP.
Last month, state media also Safety time cautioned against investing in the concept, which is still in its infancy.
âInvesting is not a virtual game,â the report said. “Blindly investing in concepts as grandiose and illusory as the Metaverse can ultimately come back to hurt your pockets.” “