Fidelity plans NFT marketplace and financial services in the Metaverse

Fidelity Investments, a $4.2 trillion asset management firm, files US trademarks for a number of Web3 products and services, including a non-fungible token (NFT) marketplace, financial investment and crypto trading services on the Metaverse .

This comes from three trademark applications filed with the United States Patent and Trademark Office (USPTO) on December 21st, one of which was highlighted by licensed trademark attorney Mike Kondoudis in a December 27th tweet. rice field.

One of the company’s areas of focus appears to be in the Metaverse, with Fidelity showing it can offer a wide range of investment services within virtual worlds, including mutual funds, retirement, investment management and financial planning, to name a few. .

Metaverse-based payment services also appear to be on the way, including electronic bill payments, fund transfers, and “financial management of credit card accounts in the Metaverse and other virtual worlds.”

As for crypto, the filing indicates that the company may launch trading and custody services in the Metaverse, along with offering cryptocurrency wallet services.

“Electronic wallet services in the nature of electronic storage and processing of virtual currencies for electronic payments and transactions over global computer networks. Digital currencies, virtual currencies and cryptocurrency digital tokens,” the filing said.

Fidelity Investments Trademark Application: USPTO

Additionally, Fidelity outlines that educational services can be offered in the Metaverse in the form of “hosting classes, workshops, seminars and conferences in the investment and marketing financial services areas.”

“The use of Internet websites to provide business information to financial service providers in the area of ​​business marketing in the Metaverse and other virtual worlds. Referral services in the area of ​​investment advice and financial planning in the Metaverse and other virtual worlds. ‘ stated in one application.

NFT is also in Fidelity’s plans, which it says may launch an “online marketplace for buyers and sellers of digital media, i.e. non-fungible tokens,” though details are not available. .

Related: Huawei Report Says Current Infrastructure Can’t Support Metaverse

According to the latest filings from Fidelity, the company is unfazed by 2022’s intense bear market and the recent FTX implosion, and is instead looking to expand its exposure and offering on Web3.

In response to a Nov. 21 letter from crypto-hating Senators Elizabeth Warren, Tina Smith, and Richard Durbin, the company essentially outlined that and called for stronger regulation. The volatile, noisy 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,” adding that “recent developments” in the cryptocurrency industry “represented the importance of standards and security measures.” I just emphasized that

It’s also worth noting that Fidelity was reportedly looking to bolster its cryptocurrency division by hiring 100 new staff in October.

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