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.