After a year of economic growth and recovery, 2022 is tracking to see a drop in global trademark filing volume by up to 20%. We analyze trademark trends in 2022 and the rise of the metaverse and non-fungible tokens (NFTs) in our new report.
2021 was a remarkable year. It was the year where the world demonstrated remarkable resilience to bounce back from the COVID-19 pandemic. Economic and business activity recovered strongly by the end of year. In fact, 2021 was a record year for trademark application volumes, with every major register seeing record filing levels. 2021 also marked the year when virtual world developments – the metaverse and non-fungible tokens (NFTs) – gathered steam and are increasingly driving worldwide trademark filing activity.
2021, however, is likely to mark a turning point when it comes to trademark trends.
In our new report, Traversing the evolving trademark landscape, we revealed that after ten consecutive years of growth in global trademark filing activity, 2022 is tracking to see a drop in global filing volume by up to 20%.
Mainland China dominates trademark filing activity
In recent years, Mainland China has been the engine powering growth in global trademark filing activity and represented almost 70% of global filings in 2021. However, over a decade’s worth of its double-digit year-on-year increase in application volumes came to an end in 2021. This signals that the days of accelerating growth in trademark filing may be over as Mainland China’s IP industry continues to mature and focus turns to quality, rather than quantity.
Rise of the metaverse and NFTs
One bright spot, and certainly one of great interest to organizations and consumers alike, is the rise of the metaverse and NFTs. In fact, U.S. trademark applications for NFTs jumped almost seven-fold in the first two months of 2022 , according to our trademark research data.
“U.S. trademark applications for NFTs jumped almost seven-fold in the first two months of 2022”
A diverse range of brands, from Meta and Microsoft, to Louis Vuitton and Nike, even the Australian Open earlier this year, have dipped their toes into the metaverse and NFTs world. While attention has focused on the potential of the metaverse and NFTs, there are other considerations for those seeking to expand into this new, fast-expanding virtual world. Notably, the complexity of monitoring and protecting digital assets, including domain name protection strategies in a metaverse world.
Change the only constant in the trademark landscape
In a world where change is the only constant, making informed brand decisions, with confidence and speed, is getting tougher. Discover the trademark trends, challenges and opportunities in a fast-changing trademark landscape through the lens of IP intelligence, in our new report.