NFT Evening NFT Evening
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • News
      • Collectibles
      • Crypto Art
      • Blockchain games
      • Metaverse
      • Music
      • Interviews
    • Guides
      • Top NFT Projects
      • Top Blockchain Games
      • NFT Marketplaces and Tools
    • Learn here!
      • What is an NFT?
      • How to keep your NFTs safe
      • NFT Glossary
    • NFT Calendar
      • NFT Drops
      • NFT Conferences
      • NFT Launchpad
    • Newsletter
    NFT Evening NFT Evening
    News

    Home » News » Could Paypal Be Opening A New NFT Marketplace?

    Could Paypal Be Opening A New NFT Marketplace?

    By VineetOctober 28, 2022Updated:October 30, 20222 Mins Read

    Fintech pioneer PayPal may be building its own NFT Marketplace. Interestingly, it has become the latest mega-corporation to file patents and trademarks around NFTs and the metaverse. IP Attorney Mike Kondoudis confirmed the move in a Twitter post dated October 25th. Furthermore, in June, PayPal hinted at diving deeper into the metaverse at the CoinDesk Annual Consensus. So, is PayPal entering the metaverse, and why?

    A picture of a PayPal office building for PayPal NFT Marketplace
    Could PayPal’s NFT Marketplace be the new wave?

    What Will PayPal’s Move Into NFTs Mean For The Space?

    In June, during the CoinDesk consensus, PayPal CEO stated, “blockchain tech is slowly redesigning the future of our financial system.” The NFT/Web3 trademark announcement from PayPal comes around the same time as another global fintech giant ‘Western Union’ announced similar moves. This is a huge push forward to the web3 ecosystem and helps faster acceptance and growth of the industry. The trademark applications include plans for exchanging, trading, and processing transfers of digital assets. The filing goes on to include crypto, digital, and virtual currencies.

    The first trademark application is “downloadable software” for trading and storing cryptocurrencies. This is why many speculate a new NFT marketplace exclusive to PayPal is in the works. Moreover, the other trademark pertains to crypto payment processing applications.

    However, this would not be the first time the company has delved into crypto. Earlier this year, PayPal introduced a pay-via-crypto feature. This allowed users to transfer Bitcoin, Ethereum, and Litecoin to and from the app to external crypto wallets. This includes crypto exchanges, hardware wallets, and family and friends. To add to this, PayPal also announced its stablecoin at the start of this year.

    About PayPal

    PayPal is among the most significant global online payment processors. PayPal lets users pay for things or transfer money online via a bank account. The application also keeps private user information hidden from merchants. With more than 360 million users across 200 countries, their move into NFTs and web3 is set to be a benchmark in the coming years.

    Join Our New "To The Moon" daily Newsletter

    Get our free, 5 minutes daily newsletter. Join 25,000+ NFT enthusiasts & stay on top 👊🌚

    Thank you!

    You have successfully joined our subscriber list.

    .

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    metaversenft lawNFT Marketplace
    Previous ArticleVeeFriends and Starter Collaborate on Limited Edition Apparel
    Next Article Ozzy Osbourne To Perform In Metaverse Festival in Decentraland
    Vineet
    • Website
    • Twitter

    Vineet is a storyteller based in Mumbai. Having previously worked for various web2 organizations as a journalist, instructional designer, and event manager, he got into blockchain in early 2021. As a musician by passion, he fell in love with the digital megastructures building the future of art and creativity. He believes that web3 unlocks creativity at a higher level, and works towards onboarding music projects to the space.

    More great NFT Evening content:

    ZORA NFT Platform Launches Trending: See What’s Hot Now

    March 28, 2023

    Overlord & Revolving Games Team Up For Web3 Game

    March 28, 2023

    Pranksy & Sorare partner for “Pranksy Plays”

    March 28, 2023

    Bitcoin NFTs Bought With Solana: A Crypto Game-Changer

    March 28, 2023

    Gucci and Yuga Labs Explore The Metaverse Together

    March 28, 2023

    Ledger Genesis Launches Artist Program: Join the Digital Art Movement

    March 28, 2023

    NAODA’s Beta by FLASK: Earn Soulbound Tokens While Gaming

    March 28, 2023

    Oops! NFT collector accidentally burns rare CryptoPunk

    March 27, 2023
    Latest NFT News

    ZORA NFT Platform Launches Trending: See What’s Hot Now

    March 28, 2023

    Overlord & Revolving Games Team Up For Web3 Game

    March 28, 2023

    Pranksy & Sorare partner for “Pranksy Plays”

    March 28, 2023

    Bitcoin NFTs Bought With Solana: A Crypto Game-Changer

    March 28, 2023

    Gucci and Yuga Labs Explore The Metaverse Together

    March 28, 2023

    Ledger Genesis Launches Artist Program: Join the Digital Art Movement

    March 28, 2023

    NAODA’s Beta by FLASK: Earn Soulbound Tokens While Gaming

    March 28, 2023

    Oops! NFT collector accidentally burns rare CryptoPunk

    March 27, 2023
    Get The FREE Exclusive Report
    CLICK HERE

    NFTevening is the biggest website for NFT news. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Put simply, we are the best place for new and experienced non-fungible token fans — making content fun & accessible

    Privacy policy
    Terms and conditions

    Article Categories
    • Blockchain games
    • Collectibles
    • Columns
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • Music
    • News
    • NFT Marketplaces and Tools
    • Sponsored Content
    • Top Blockchain Games
    • Top NFT Projects
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Job Opportunities
    • About Us
    • Contact Us
    • Newsletter
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.