Metaverse, the concept of a shared virtual environment that users access via the internet, is gathering momentum in China, as Baidu and NetEase join other Big Tech firms in applying for trademarks related to this field amid concerns over the risks involved in the new business model.
NetEase, the Hangzhou-based video gaming giant, and its subsidiaries filed dozens of metaverse-related trademark applications in late October, according to Chinese business registration tracking platform Qichacha.
The trademark applications filed by the NetEase group include monikers that combine the word “metaverse” with the names of the company and its artificial intelligence (AI) research and gaming units, such as “NetEase metaverse”, “Fuxi metaverse” and “Leihuo metaverse”. These applications cover various categories including design research, communications services, and education and entertainment.
Chinese search engine and AI systems provider Baidu applied to trademark the term “metaapp” in the scientific instruments and design research categories, according to data from Qichacha.
Baidu’s applications were filed on October 29, a day after Facebook chairman and chief executive Mark Zuckerberg announced the company’s rebranding as Meta to better reflect the future direction of the global social media powerhouse.
The Nasdaq-listed NetEase and Baidu are not the only ones jumping on the bandwagon. Tencent and ByteDance have taken steps into the space. The e-commerce giant Alibaba, too, has registered several trademarks, including "Ali Metaverse," related to the buzzword.
The term metaverse refers to shared virtual spaces that people can access via the internet using virtual-reality and augmented-reality devices. The tech buzzword was thrust into the limelight when Facebook announced its name change to Meta to reflect its focus on the concept.
More than 400 companies in China have registered trademarks for terms related to the metaverse so far, according to a report from The Wall Street Journal's Chinese edition on Wednesday.
It's a race to the forefront of the space, which Bloomberg Intelligence estimates could be worth $800 billion by 2024.
https://www.scmp.com/tech/tech-tren...s-pace-china-baidu-netease-join-rush-register
