Fidelity plans to launch NFT Marketplace and offer crypto services in Metaverse by DailyCoin

• Fidelity Investments filed three trademark applications with the United States Patent Trademark Office (USPTO).
• The applications show Fidelity’s intention to begin offering crypto services such as mutual funds, real estate and retirement investment services “in the metaverse and other virtual worlds.”
• The investment giant said it may launch an NFT marketplace “with textual and graphical content” in the future.
• Fidelity also appears to be interested in offering crypto wallet and trading services.

Investment behemoth Fidelity Investments looks set to enter the metaverse and cryptocurrency industry, recent trademark filings show.

Fidelity filed three trademark applications with the United States Patent Trademark Office (USPTO) on December 21. All are oriented towards offering various services “in the metaverse and other virtual worlds”.

For example, applications indicate that Fidelity can offer a wide range of services. These include mutual funds, real estate and retirement investment services, securities brokerage services, and charitable fundraising services in the metaverse. Fidelity may also have plans to launch educational services such as workshops, classes and seminars in financial services marketing.

Fidelity, which boasts $4.5 trillion in assets under management, also seems interested in offering crypto wallet services. Secure placement, administration and trading of cryptocurrencies are possible venture areas.

“Electronic wallet services in the form of electronic storage and processing of virtual currency for electronic payments and transactions via a global computer network,” the application reads. As for non-fungible tokens (NFT), the investment giant may also launch an NFT marketplace for “buyers and sellers of digital media, namely non-fungible tokens with textual and graphic content.”

Crypto also plays an important role in Fidelity’s plans. For example, the firm may offer “digital currency, virtual currency, cryptocurrency digital token, crypto token and utility token trading services, namely, electronic transfer of virtual currencies.”

The company also wants to facilitate crypto trading services. They include “providing a financial exchange for the trading of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digitized assets, digital tokens, crypto tokens and utility tokens.”

Fidelity remains bullish on Crypto

Fidelity’s trademark applications come just two months after the second largest crypto exchange FTX spectacularly imploded. On top of that, most cryptocurrencies have been down 90% and more since the start of the year.

However, Fidelity seems to be showing loyalty to its crypto plans. In early November, one of America’s largest and oldest investment companies began offering early access to its crypto product, Fidelity Crypto. This app will allow trading and without commission fees.

In April of this year, Fidelity announced plans to offer workers the option to invest in Bitcoin in their 401(k) retirement plans. They are the first significant investment fund to do this. The move has been heavily criticized by industry players and regulators, especially after the FTX debacle.

On the other side

• It’s unclear what specific services Fidelity plans to offer.
• It is unknown when Fidelity will begin offering its services described in the trademark applications.
• Filing a trademark application does not mean that a company has to launch products or services mentioned in the application.

Why you should care

Fidelity is one of the largest investment funds in the world. Showing interest in crypto and filing multiple trademark applications covering a wide range of potential businesses in the metaverse and crypto industries is validation the broader blockchain community desperately needs.

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