The metaverse is a rapidly growing virtual space that has captured the attention of individuals, companies and governments around the world. With the potential to revolutionize the way we interact, work and play in this virtual environment, it is no surprise that countries are taking notice of this emerging technology. The British government in particular has done this analyzed the intellectual property landscape of the metaverse, highlighting IP and trademark applications for this digital frontier.
The UK government’s report shows an increase in the number of Metaverse-related patent applications, with 71,738 international patent families (IPFs) identified as of June 30, 2021. IPFs are patent applications filed in at least two different countries. This increase indicates growth interest and investments in metaverse technologies, with a notable increase between 2015 and 2018. The United States leads in the number of IPFs, demonstrating its pioneering role in this digital landscape, while Japan ranks second.
Among companies, Qualcomm holds the most IPFs in this area, while Huawei is also showing rapid growth in metaverse-related filings. The annual number of metaverse IPFs published by Huawei has increased significantly, increasing 190% from 48 in 2015 to 140 in 2021.
Trademark activities reflect the shift towards services
In addition to patent applications, trademark activity related to the metaverse has also seen exponential growth. As of June 30, 2023, there were 31,503 UK trademark applications in this domain. Interestingly, in recent years there has been a shift from goods to service-related applications, reflecting the evolving nature of the upside-down economy. Between 2014 and 2018, the number of trade mark applications containing virtual reality terms in their descriptions increased fivefold, with virtual reality specifications appearing in around 2.36% of all UK trade mark applications by 2022, the report said.
With the metaverse expected to reach more than 1.4 billion users and a market volume of $490.4 billion by 2030, the UK analysis sheds light on the dynamic IP activity shaping this sector. This wave of registrations reflects the escalating interest in the metaverse. It signals the need for regulation and understanding its wider implications. Furthermore, as the Metaverse continues to evolve, monitoring and analyzing IP trends will be critical to ensuring a balanced approach to regulation.
Britain’s targeted contribution to metaverse technologies and its active role in shaping the future digital landscape demonstrate the importance of intellectual property in advancing this digital frontier.
In conclusion, the UK’s analysis of metaverse intellectual property highlights the country’s growing interest in shaping the Metaverse. As we look to the future and continued growth of the metaverse, it is clear that monitoring and understanding IP trends will be crucial to driving innovation.