The Metaverse is a rapidly expanding virtual space that is capturing the attention of individuals, businesses, and governments around the world. It is no surprise that countries are taking notice of this new technology, as it has the potential to transform the way we interact, work and play in virtual environments. In particular, the UK government analyzed the intellectual property landscape of the metaverse, highlighting IP and trademark applications for this digital frontier.
According to a report from the UK government, there has been a sharp increase in metaverse-related patent applications, with 71,738 confirmed International Patent Families (IPFs) as of June 30, 2021. An IPF is a patent application filed in at least two countries. This surge indicates growing interest and investment in Metaverse technology, which increased significantly from 2015 to 2018. The United States leads in the number of IPFs, demonstrating its pioneering role in this digital environment, while Japan ranks second.
Among companies, Qualcomm owns the largest number of IPFs in this space, while Huawei is also showing rapid growth in metaverse-related filings. The number of annual Metaverse IPFs published by Huawei has seen a significant increase, increasing 190% from 48 in 2015 to 140 in 2021.
Brand activity reflects the shift toward services.
In addition to patent applications, trademark activity related to the Metaverse has also increased exponentially. There were 31,503 UK trademark applications for this domain up to 30 June 2023. Interestingly, in recent years there has been a shift from goods to service-related applications, reflecting the evolving nature of the metaverse economy. Between 2014 and 2018, there was a five-fold increase in trademark applications containing virtual reality terms in the description, with virtual reality specifications appearing in around 2.36% of all UK trademark applications by 2022, according to the report.
With the Metaverse expected to have over 1.4 billion users and a market size of $490.4 billion by 2030, the UK analysis highlights the dynamic IP activity shaping the sector. This surge in filings reflects growing interest in the metaverse. This points to the need for regulation and understanding of its broader implications. Additionally, as the metaverse continues to evolve, it is important to monitor and analyze IP trends to ensure a balanced approach to regulation.
The UK’s intensive 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 rights highlights the UK’s growing interest in metaverse formation. As we look to the future and continued growth of the Metaverse, it is clear that monitoring and understanding IP trends will be important to foster innovation.