Brands flocked to file trademark applications for the metaverse earlier this year. Now, the number of those applications is falling, causing some to herald the end of the gold rush era.

Between January and October, approximately 5,000 US trademark applications were filed for metaverse and virtual goods or services, according to public filings, from brands including Nike, Adidas, Tommy Hilfiger, Levi’s and Versace. In the month of March, the number peaked at 773. The 2021 total was 1,890. However, applications for the month of October were just 334, half of those for March, showing signs of declining, according to Josh Gerben, trademark attorney and founder of the law firm Gerben Perrott, PLLC.

“The era of the Web3 gold rush is over,” Gerben said. “The people who are…