Fidelity aims NFT and Metaverse Expansion: Trademark Filing shows

For a variety of Web3 services and products including a nonfungible token (NFT) marketplace, financial investing services, and cryptocurrency trading in the metaverse, investment firm Fidelity Investments has decided to file trademark applications in the United States.

This is in accordance with three trademark applications that were submitted to the United States Patent Trademark Office USPTO on December 21. Licensed trademark lawyer Mike Kondoudis highlighted this in a tweet on December 27.

It also looks that metaverse-based payment services, such as electronic bill payments, fund transfers, and the “financial administration of credit card accounts in the metaverse and other virtual worlds,” are currently in the process.

In terms of cryptocurrency, documents reveal that the company may provide trading and management services in the metaverse, as well as virtual currency wallet services.

The filing states: 

“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.”

Furthermore, Fidelity indicates that it could also offer educational services in the metaverse by “conducting classes, workshops, seminars, and conferences in the field of investments and in the field of marketing financial services.”

Fidelity also has ambitions for NFTs, indicating that it may develop an “online marketplace for buyers and sellers of digital media, namely, non-fungible tokens,” however, firm hasn’t facilitated further details.

Fidelity Unfazed by the Crypto Winter

According to recent news, Fidelity is unfazed about the hard bear market in 2022 or the current FTX meltdown, and instead intends to expand its presence and offerings in Web3 by allowing retail investors to buy and sell Bitcoin and Ethereum in November of this year.

It’s also worth mentioning that Fidelity was apparently attempting to strengthen its crypto operation by adding 100 personnel back in October, which runs contrary to a number of cryptocurrency companies which have fired a considerable number of their staff this year.