Fidelity NFT’s & Suite of Financial Services
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An editor at Coincrop
28 Dec 2022 | 5 min read
idelity is launching an innovative NFT marketplace and suite of financial services on the metaverse to revolutionize the user experience.
The recently submitted trademark applications expose a plethora of opportunities for the firm to explore in the virtual world.
Fidelity Investments, a renowned investment organization, has taken the initiative to put in motion several applications for trademarking Web3 products and services within the United States. These involve an NFT marketplace and financial investments and trading services in the metaverse.
Just recently on December 21st, three trademark applications were sent to United States Patent Trademark Office (USPTO). This was brought to the attention of licensed trademark attorney Mike Kondoudis in a Tweet published on December 27th.
The metaverse is a primary area of focus for Fidelity, as they are poised to offer an extensive range of financial services within virtual realms. These encompass everything from mutual funds and retirement funds, investment management and financial planning.
It looks like revolutionary metaverse-based payment services could be in the works, including such capabilities as electronic bill payments, fund transfers and credit card accounts management within virtual worlds.
With regards to cryptocurrency, the documents suggest that this organization may offer trading and administration services in digital space as well as virtual currency wallet services.
The following is an excerpt from the filing “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”.
Moreover, Fidelity has stated that it could provide instructional services in the metaverse such as “classes, workshops, seminars and conferences related to investments and marketing financial services.” and “Providing business information to financial service providers by means of 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”.
Fidelity is ready to make its move into the NFTs space by creating an online marketplace where buyers and sellers of digital media, especially non-fungible tokens (NFTs), can come together. However, Fidelity has not yet revealed any more information about this ambitious project.
Despite the tumultuous bear market of 2022 and FTX's explosive collapse, Fidelity refuses to back down. On the contrary, recent filing reports indicate that they're actively looking for ways to intensity their Web3 investments and offerings.
Evidently, Fidelity has decided to take the opposite approach of many other crypto firms by bolstering their crypto unit with an estimated 100 new employees in October. This stands in contrast to the several crypto companies that have had to drastically downsize this year due to financial pressures.
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