Crypto on LYO: The Blend — Trademarks Filed for Crypto, NFTs, and Metaverse Rise in 2022, Crypto Removed From Top 10 Most-cited Potential Risks, Plan to Decentralize Ethereum Revealed

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What happened in the crypto world in the last week? Let’s see some interesting news together! 

Trademarks Filed for Crypto, NFTs, and Metaverse Rise in 2022

According to Mike Kondoudis, a licensed trademark attorney, the number of trademark applications for nonfungible tokens (NFTs), cryptocurrencies, and metaverse-related virtual goods and services has soared dramatically in 2022. 

Based on the compiled data by Kondoudis, the figure for trademark applications grew from 2,142 in 2021 to 6,855 by the end of October 2022. 

One of the companies that aim to enter the metaverse is luxury watchmaker Rolex. The Swiss watch designer and manufacturer plans to build a cryptocurrency exchange, and create NFTs, NFT-backed media, and NFT marketplaces. 

Crypto Removed From Top 10 Most-cited Potential Risks 

The Federal Reserve Bank of New York has published the result of its survey, suggesting that cryptocurrency is not in the top 10 of the most critical financial risk concerns in 2022. Based on the report, the most-cited potential risks over the next year and a half are political tensions, COVID-19, and high energy prices.

Out of the 14 factors that present a financial risk, cryptocurrency is in the 11th position, showing the shift in investors’s perception of crypto due to the constant efforts of crypto entrepreneurs to introduce crypto and its benefits to the masses. 

Plan to Decentralize Ethereum Revealed

Vitalik Buterin, the co-founder of Ethereum, unveiled a new stage for the platform’s technical roadmap that will enhance its censorship resistance and decentralize the network.

Ethereum is currently in its second stage, the Surge, following the platform’s transition to a  proof-of-stake network. Buterin introduced the Scourge which will “ensure reliable and credibly neutral transaction inclusion and to avoid centralization and other protocol risks from Miner Extractable Value (MEV).”

Buterin also reiterated that in the further stages of the Ethereum roadmap, there will be a “more explicit role for quantum-proofness.” 

Stay tuned for next week’s crypto news! Follow LYOPAY social media pages: 

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