Fidelity plans to market NFT and financial services in the metaverse

Investment large Fidelity Investments has filed US trademark functions for a variety of Web3 merchandise and services, together with a non-fungible token (NFT) market and financial funding and cryptocurrency buying and selling services in the metaverse.

That’s in accordance to three trademark filings filed with the United States Patent and Trademark Office (USPTO) on Dec. 21, highlighted in a Dec. 27 tweet by licensed trademark lawyer Mike Kondudis.

#loyalty has plans for the metaverse.

The firm has filed 3 trademark functions, together with:
▶️ NFTs + NFT Markets
▶️ Metaverse Investment Services:
▶️ Investing in digital actual property
▶️ Cryptocurrency buying and selling
… and way more. #NFTs: #Metaverse #Encrypted #Web3: #Defy #Finances

— Mike Kondoudis (@KondoudisRegulation) December 26, 2022

One of the firm’s key areas seems to be metaversion, the place Fidelity says it will possibly supply a variety of funding services in digital worlds, together with mutual funds, pension funds, funding administration and financial planning.

It additionally seems that metaverse-based fee services might be developed, together with digital invoice funds, cash transfers, and “financial administration of bank card accounts in the metaverse and different digital worlds.”

In phrases of crypto, the filings point out that the firm might function buying and selling and administration services in the metaverse, in addition to present digital forex pockets services.

“Electronic pockets services in the nature of digital storage and processing of digital forex for digital funds and transactions through a world pc community; digital forex, digital forex, cryptocurrency digital token,” the doc reads.

Fidelity Investments Trademark Application: USPTO

In addition, Fidelity describes that it might supply academic services in the metaverse “in the type of courses, workshops, seminars and conferences in the advertising of investments and financial services.”

“Provision of economic info to financial service suppliers through an Internet website, in the area of economic advertising in the metaverse and different digital worlds; reference services in the area of funding recommendation and financial planning in the metaverse and different digital worlds,” the doc says.

NFTs are additionally in Fidelity’s plans, and the funding supervisor notes that it might open an “on-line market for consumers and sellers of digital media, i.e. non-fungible tokens,” however additional particulars on which can be scarce.

Fidelity’s newest filings present that the firm has not been intimidated by the intense bear market of 2022 and the latest FTX explosion, and is as an alternative trying to improve its publicity and choices in Web3.

The firm basically described it as such and known as for stronger regulation in response to a Nov. 21 letter from crypto-hating senators Elizabeth Warren, Tina Smith, and Richard Durbin, who urged Fidelity to overview its Bitcoin (BTC) retirement product for Crypto Assets ” unstable, turbulent and chaotic’ nature.

A Fidelity spokesperson advised Cointelegraph at the time that the firm has “at all times prioritized operational excellence and buyer safety” and famous that “latest occasions” in the crypto business have solely “underscored the significance of requirements and safeguards.”

It’s additionally price noting that in October, Fidelity seemed to bolster its crypto unit by hiring 100 new workers, a stark distinction to a number of crypto corporations which have reduce important numbers of workers this 12 months.


Leave a Comment

Your email address will not be published. Required fields are marked *