Monday, July 22, 2024
Blockchain

Fidelity Envisions Metaverse NFT Marketplace And Financial Services

The world’s largest investment management firm, Fidelity Investments, has submitted trademark applications in the United States for a variety of Web3 goods and services. These applications cover a marketplace for nonfungible tokens (NFTs), as well as financial investment and cryptocurrency trading services in the metaverse.

This is according to three trademark applications that were made to the United States Patent Trademark Office (USPTO) on December 21. These trademark filings were highlighted in a tweet that was published on December 27 by licensed trademark attorney Mike Kondoudis.

One of the primary areas that the company appears to be concentrating its efforts on is the metaverse. Fidelity has indicated that it may be able to provide a variety of investment services within virtual worlds, such as mutual funds, retirement funds, investment management, and financial planning, in the future.

It would seem that the development of payment services that are based in the metaverse is also underway. These services may include electronic payments for bills, transfers of funds, and the management of the financial aspects of credit card accounts in the metaverse and other virtual worlds.

According to the papers, the company may start offering trading and administration services in the metaverse, in addition to providing services for virtual currency wallets, in the context of cryptocurrencies.

In addition, Fidelity mentions that it might be able to provide some form of educational services in the metaverse in the future holding educational events such as classes, workshops, seminars, and conferences related to the marketing of financial services and the business of investing in financial markets.

In the field of business marketing in the metaverse and other virtual worlds, the provision of business information to financial service providers by means of an internet web site; referral services in the field of investment advice and financial planning in the metaverse and other virtual worlds; providing business information to financial service providers via an internet web site in the field of business marketing in the metaverse and other virtual worlds a document is read here.

The investment manager Fidelity stated that it could launch an online marketplace for buyers and sellers of digital media, specifically non-fungible tokens; however, further details on such are scant. NFTs are also in the plans of Fidelity, which states that it could launch an online marketplace for buyers and sellers of digital media.

The most recent filings from Fidelity demonstrate that the company has not been frightened by the severe bear market in 2022 or the recent collapse of FTX. Instead, the company is planning to enhance its exposure and products in the Web3 market.

When responding to a letter dated November 21 from crypto-hating senators Elizabeth Warren, Tina Smith, and Richard Durbin, which had asked Fidelity to reconsider its Bitcoin retirement products due to the volatile, tumultuous, and chaotic nature of crypto assets, the company essentially outlined as such and called for stronger regulation. In the letter, the senators had asked Fidelity to reconsider its Bitcoin retirement products.

That back in October, Fidelity was apparently planning to strengthen up its crypto operation by adding 100 additional staff members, which stands in sharp contrast to a number of other cryptocurrency companies that have let off a substantial proportion of personnel this year.

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