Fidelity plans to market NFTs and financial services in the metaverse

Investment giant Fidelity Investments has filed US trademark applications for a host of Web3 products and services, including a non-fungible token (NFT) marketplace and financial investment and crypto trading services in the metaverse.

This is according to three trademark filings sent to the United States Patent and Trademark Office (USPTO) on December 21, which was highlighted by licensed trademark attorney Mike Kondoudis in a December 27 tweet.

One of the company’s key areas of focus appears to be the metaverse, with Fidelity indicating that it could offer a wide range of investment services within virtual worlds, including mutual funds, superannuation funds, investment management and financial planning.

It also appears that metaverse-based payment services could be in the works, including electronic bill payments, fund transfers, and “financial management of credit card accounts in the metaverse and other virtual worlds.”

In terms of crypto, the filings indicate that the company could launch trading and management services in the metaverse, in addition to providing virtual currency wallet services.

“Electronic wallet services in the form 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,” the filing reads.

Fidelity Investments Trademark Registration: USPTO

In addition, Fidelity notes that it could offer educational services in the metaverse in the form of “conducting classes, workshops, seminars, and conferences in the investment field and in the field of financial services marketing.”

“Providing business information to financial service providers by means of an Internet website, in the field of business marketing in the metaverse and other virtual worlds; reference services in the field of investment advice and financial planning in the metaverse and other virtual worlds”, reads a presentation.

NFTs are also in Fidelity’s plans, with the investment manager claiming it could launch an “online marketplace for buyers and sellers of digital media, i.e. non-fungible tokens”, however further details on this are scant. .

Related: Current infrastructure cannot support the metaverse, Huawei report says

Fidelity’s latest filings show that the firm has not been spooked by the intense bear market in 2022 and the recent FTX implosion, and is instead looking to increase your exposure and offers in Web3.

The firm essentially described itself as such and called for stricter regulation in responding to a Nov. 21. letter from senators who hate crypto Elizabeth Warren, Tina Smith, and Richard Durbin, who had asked Fidelity to reconsider their Bitcoin (BTC) retirement products due to the “volatile, tumultuous and chaotic” nature of crypto assets.

A Fidelity spokesperson told Cointelegraph at the time that the firm has “always prioritized operational excellence and customer protection,” noting that “recent events” in the crypto industry have only “underscored the importance of standards and safeguards.” “.

It’s also worth noting that in October, Fidelity was reportedly looking to bolster its crypto unit by hiring 100 new staff membersa stark contrast to a number of crypto firms that have laid off a significant number of employees this year.