Fidelity plans NFT marketplace and financial services in the metaverse
Dec 27, 2022 15:05 UTC
Dec 27, 2022 at 15:05 UTC
Newly filed trademark applications define a protracted list of potential avenues for the firm within the metaverse.
Investment big Fidelity Investments has filed trademark applications within the u. s. for a bunch of Web3 products and services, as well as a nonfungible token (NFT) marketplace and money investment and crypto commercialism services within the metaverse.
This is in step with 3 trademark filings submitted to the u. s. Patent Trademark workplace (USPTO) on Dec. 21, that was highlighted by authorized trademark lawyer microphone Kondoudis in an exceedingly Dec. 27 tweet.
One of the key areas of the firm’s focus seems to be the metaverse, with Fidelity indicating that it might supply a good variety of investment services at interval virtual worlds as well as mutual funds, retirement funds, investment management and money designing.
It seems that metaverse-based payment services may be within the works, as well as electronic bill payments, fund transfers and therefore the “financial administration of mastercard accounts within the metaverse and alternative virtual worlds.”
In terms of crypto, the filings indicate that the firm might launch commercialism and management services within the metaverse, beside providing virtual currency billfold services.
“Electronic billfold services within the nature of electronic storage and process of virtual currency for electronic payments and transactions via a worldwide pc network; digital currency, virtual currency, cryptocurrency digital token,” the filing reads.
Additionally, Fidelity outlines that it might supply academic services within the metaverse within the style of “conducting categories, workshops, seminars and conferences within the field of investments and within the field of promoting money services.”
“Providing business data to money service suppliers by means of a web data processor, within the field of business selling within the metaverse and alternative virtual worlds; referral services within the field of investment recommendation and money designing within the metaverse and alternative virtual worlds” one filing reads.
NFTs are in Fidelity’s plans, with the investment manager stating that it might launch an “online marketplace for patrons and sellers of digital media, namely, non-fungible tokens,” but any details on such are thin.
The latest filings from Fidelity show that the firm has not been spooked by the extreme market in 2022 and up to date FTX implosion, and is instead trying to extend its exposure and offerings in Web3.
The firm primarily made public intrinsically and mixed up stronger regulation once responding to a November. 21 letter from crypto-hating senators Elizabeth Warren, Tina Smith and Richard Durbin, who had referred to Fidelity to rethink its Bitcoin BTC tickers down $16,882 retirement product because of the “volatile, turbulent and chaotic” nature of crypto assets.
A Fidelity advocate told Cointelegraph at the time that the corporation “has continuously prioritized operational excellence and client protection” and noted that “recent events” within the crypto business have solely “underscored the importance of standards and safeguards.”
It is worth noting that back in October, Fidelity was reportedly trying to reinforce its crypto unit by hiring one hundred new workers members, a stark distinction to the variety of crypto companies that have ordered off a major quantity of staff this year.