Fidelity Investments, a $4.2 trillion asset management company, has filed a trademark application in the United States for Web3 products and services, including a non-fungible token (NFT) marketplace and financial investing and crypto trading services in the metaverse.
This is according to three trademark applications filed with the United States Patent Trademark Office (USPTO) on December 21, one of which was noted by licensed trademark attorney Mike Kondoudis in a tweet on December 27.
#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
Fidelity indicates that it provides a variety of investing services in the virtual world, including mutual funds, retirement funds, investment management, and financial planning, among others.
In addition, it appears that metaverse-based payment services, such as electronic bill payments, fund transfers, and “financial administration of credit card accounts in the metaverse and other virtual worlds,” are in the works.
The registration indicates that the company may provide trading and administration services in the metaverse as well as wallet services for virtual currencies.
“Electronic wallet services in the nature of electronic storage and processing of virtual currency for electronic payments and transactions through global computer networks; digital currency, virtual currency, cryptocurrency digital token,” the filing reads.
In addition, Fidelity indicates that it may provide educational services in the metaverse by hosting classes, workshops, seminars, and conferences in the areas of investing 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,” reads a filing.
Fidelity’s most recent filing demonstrates that the company is not worried by the intense bear market in 2022 and the recent FTX explosion, but rather wants to enhance its exposure and offerings in Web3.
The corporation reacted to a November 21 letter from crypto-haters Elizabeth Warren, Tina Smith, and Richard Durbin pushing for stricter regulation, which demanded “restriction on bitcoin (BTC) retirement products” by effectively outlining such a framework.
It is also worth noting that in October, Fidelity reportedly planned to hire 100 new staff members to reinforce its crypto section, in contrast to several crypto firms that had shed considerable workforce this year.
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