Intellectual Property in the Metaverse

The metaverse is a virtual space that utilizes both #virtualreality (VR) and #augmentedreality (AR). Users interact with each other and the environment through digital avatars. Mobile devices, extended reality headsets, and desktops are used to access it. Investments flowing into the #metaverse present opportunities for companies seeking to transform technology, business, and art.

Patents Related to the Metaverse

In recent years, the concept of the metaverse has gained popularity. It was first used in video games. To prepare patents related to the metaverse, inventors can apply the best practices used for previous video game technology. Reputed companies such as Nike, Microsoft, Qualcomm Inc, IBM, Activision Inc, and HTC Corp have already applied for metaverse patents.

Most patent applications are filed in the following categories:

• Hardware technologies – #patents have been filed for hardware components such as CPUs, GPUs supporting the metaverse environment, virtual reality (VR) and augmented reality (AR) headsets
• Software technologies – Software innovations could include processes that are used for performance, access, or synchronization in the metaverse environment. Due to an overlap from older video games and simulation programs, software patents must identify the step in the process that is unique to its execution in the metaverse.

To understand the current landscape better, we used #PatSeer to conduct a preliminary #patentsearch using the appropriate keywords and IPC & CPC classes related to metaverse technology. The chart given below shows patenting trends in the metaverse space.

As you can see, patent filings for the metaverse started almost a decade ago but have increased since 2019. The chart shows applications plotted by their earliest filing dates and published grants in the last 10 years.

From 2022 to 2030, the metaverse market is expected to reach USD 800 billion, growing at a rate of 38-39%. Apart from the US, Asian countries are also key markets for this technology, as evidenced by the tree map given below.

Hence, data clearly indicates that the metaverse will reap profits for companies willing to understand and utilize its potential. Established companies are now filing patents or acquiring licenses related to the metaverse. 

Read our recent blog post on Intellectual Property in the Metaverse to find out more the top industries and important developments that are defining this space.