Fidelity files for new NFT, Crypto and Metaverse brands

Fidelity recently filed for a set of new trademarks in its latest bid to expand into the Metaverse. The filings were filed on December 21 and cover non-fungible tokens, digital currency services and stock and pension fund investments in virtual worlds.

Fidelity to expand into virtual worlds

Fidelity recently applied for three new trademarks on digital assets and virtual worlds. Although details are scarce, the filings focus on NFTs and virtual worlds like the Metaverse. They can be found on the website of the United States Patent and Trademark Office and are under serial numbers 97727473, 97727439 and 97727409.

They are described as mainly related to NFTs “with textual and graphic content”. and offers various virtual world services. These include, according to the registrations, marketing and referral programs in Metaverse and metaverse-like areas. Perhaps the most interesting part of the trademark registrations includes mention of investment, hedge and pension fund services in virtual worlds, in addition to providing investment information and securities brokerage.

The filing also mentions cryptocurrencies in a broader sense. More specifically, it shows the trading and management of crypto, blockchain, digital and digitized assets as well as the transfer and exchange of and financial consultation with respect to these.

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Fidelity Remains Committed to Digital Assets Despite ‘Crypto Winter’

Fidelity has had an interest in Bitcoin since at least 2014 and has continued to explore and expand into this and other cryptocurrencies throughout the bull and bear markets since. This year has been no different for the company as it launched several new digital asset services through 2022.

As early as April, the company began offering Bitcoin as part of its 401(k) retirement plans, and in September it announced plans to offer commission-free trading of the world’s largest cryptocurrency to retail investors. The investment giant rolled out the feature in 35 US states several months later by offering access to a waiting list in early November.

Fidelity also launched a spot Bitcoin ETF in Canada that saw $1.9 million in trading volume just on its first day. The firm has also faced some backlash due to its crypto adoption. Throughout 2022, Senators Durbin, Warren and Smith wrote to Fidelity three times urging the company to liquidate the BTC 401(k) with the latest letter warning against the inclusion of digital assets in pension funds and citing the recent collapse of FTX.

What do you think Fidelity’s plans for Metaverse are? Let us know in the comments below.

About the author

Tim Fries is the co-founder of The Tokenist. He has a B. Sc. in mechanical engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate in the investment team at RW Baird’s US Private Equity division and is also a co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.