Fidelity Plans to Launch NFT Marketplace and Offer Financial Services in the Metaverse

Fidelity Investments, a premier investment company, has recently submitted trademark applications in the US for various Web3 products and services. These include an NFT marketplace as well as crypto trading & investment services related to the metaverse.

Three trademark applications were submitted to the United States Patent Trademark Office on the 21st of December. This was later brought to attention by licensed trademark attorney Mike Kondoudis on Twitter.

According to Fidelity, it has a strong focus on the metaverse, with the company indicating that it can provide mutual funds, retirement funds, asset management, and investment advice within virtual worlds.

In addition, metaverse-based payments are reportedly under development, such as e-billing, transaction payments, and the administration of virtual world credit card accounts.

Moreover, based on the filings, the company plans to offer trading & management services as well as cryptocurrency wallets in the metaverse.

“Electronic wallet services in the nature of electronic storage and processing of virtual currency for electronic payments and transactions via a global computer network; digital currency, virtual currency, cryptocurrency digital token,” states the filing.

Furthermore, Fidelity intends to provide educational services in the metaverse by hosting workshops, classes, forums, and conferences on investment management and financial marketing.

As filings state, the company wants to provide comprehensive financial service information through a web-based platform, as well as referrals for investment and financial advice in the metaverse and other virtual worlds.

Also on Fidelity’s horizon are non-fungible tokens, as the financial firm stated that it might launch a trading platform for NFT buyers and sellers. There is, however, little information available in this regard.

Fidelity’s latest filings demonstrate the company is not fazed by the 2022 crypto winter or FTX’s sudden collapse but rather focusing on expanding its Web3 presence.

In reaction to a November 21st letter from the group of senators demanding Fidelity to re-evaluate its Bitcoin pension offerings, citing cryptocurrency’s instability, volatility, and disorganization, the investment manager stated that it supports more regulations in the crypto sphere.

A Fidelity spokesperson emphasized that the company had always placed customer defense and operational excellence as of utmost priority, further adding that “recent developments” in the crypto industry have solely intensified the necessity of rules and safeguards.

Noteworthy that in October, Fidelity seemed to be going against the grain by seeking to bolster its digital asset division through the hiring of 100 new employees – a remarkable move in contrast with other digital currency companies that have downsized their workforce considerably this year.