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Fidelity Plans NFT Marketplace and Financial Services in the Metaverse

Newly filed trademark applications outline a long list of potential metaverse avenues for the firm.

Fidelity Investments has applied for trademarks in the United States for a number of Web3 products and services, including a nonfungible token (NFT) marketplace and financial investment and crypto trading services in the metaverse.

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

The metaverse appears to be one of the firm’s key areas of focus, with Fidelity indicating that it could offer a wide range of investment services within virtual worlds such as mutual funds, retirement funds, investment management, and financial planning.

It also appears 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 in the works.

In terms of cryptocurrency, the filings indicate that the company may launch trading and management services in the metaverse, as well as virtual currency wallet services.

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

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

“Providing business information to financial service providers through an internet web site, in the field of business marketing in the metaverse and other virtual worlds; referral services in the field of investment advice and financial planning in the metaverse and other virtual worlds,” according to one filing.

Fidelity also has plans for NFTs, stating that it may launch a “online marketplace for buyers and sellers of digital media, namely, non-fungible tokens,” though further details are scarce.

 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.