Fidelity Investments, a major US-based financial services corporation, has filed three trademark applications indicating its intention to enter the non fungible token (NFT) and metaverse markets.
According to the applications filed with the USPTO on Dec. 21, Fidelity intends to offer NFTs with textual and graphical content, as well as an NFT marketplace where buyers and sellers can trade digital assets.
As for the metaverse, the financial corporation intends to bring mutual fund investing, retirement fund investing, investment management, financial planning and other finance-related services into the virtual world.
The trademark applications also describe the ambition to offer a digital currency wallet and electronic virtual currency transfers.
Michael Kondoudis, an attorney specializing in Web3-related trademarks, shared the news via Twitter.
#Fidelity has plans for the metaverse!
The company has filed 3 trademark applications covering
▶️ NFTs + NFT Marketplaces
▶️ Metaverse Investment Services
▶️ Virtual Real Estate Investing
▶️ Cryptocurrency Trading
… and more!#NFTs #Metaverse #Crypto #Web3 #Defi #Finance pic.twitter.com/op9fg80e7z
— Mike Kondoudis (@KondoudisLaw) December 26, 2022
These trademarks indicate that Fidelity intends to continue its Web3 venture, which began with its first step into the metaverse, a virtual place on Decentraland dubbed The Fidelity Stack, to educate people about personal finance.
The metaverse is one of Fidelity’s main areas of focus. The corporation says it can offer a range of investment possibilities in digital environments, such as mutual fund plans, retirement funds, capital management and budgeting.
It is working on metaverse-based payment systems, such as digital bill payments, money transfers and credit card financial management in the virtual world and other communities.
As for cryptocurrency, the documents imply that the company can offer trading and administration services in the multiverse and digital money wallet facilities.
Fidelity says digital payment facilities in the form of virtual money storage and management for online transfers and payments across a global network; virtual money, electronic money and cryptocurrency digital currencies.
Offer lessons, workshops and meetings in the area of finance and in the area of financial services advertising.
One of the readings says offering company data to financial institutions through an online site in the area of business branding in the virtual world and other virtual social worlds; referral services in the category of financial advice and financial management in the virtual world.
According to Fidelity’s most recent reports, the company has not been daunted by the tough 2022 bear market or the current FTX slump, but plans to ramp up its investment and products in Web3.
Financial services and the Web3
This is not the first time a financial services provider has filed trademarks to join the metaverse.
Several companies, including Mastercard, Capital One and HSBC, have already filed trademarks to secure their Web3 initiatives.
Despite the trademark filings, other financial institutions have already launched their initiatives; SEBA Bank began offering Ethereum-based NFT custody.
And on the other hand, Sygnum forged a new path in the metaverse with the goal of educating the community about innovative products and the future of finance.
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