NFT Marketplace and Financial Services in Metaverse: Plans Fidelity
- Fidelity has filed a trademark application for various Web3 products and services in the United States.
- They plan to offer a wide range of financial services in the metaverse.
- Also have plans to use the metaverse for financial education purposes.
The NFT market is slowly gaining momentum; it is often referred to as the technology of the future. Recently, Warner Music Group invested in DressX, a digital fashion studio. Here, the artists under WMG can have digital dresses and accessories for their digital avatars. Now investment giant Fidelity Investments has joined the race and has filed a trademark application in the US for many Web3 products and services.
NFT marketplace, financial investment and crypto trading services in the metaverse are supposed to be part of their plans. These details come from 3 trademark filings on December 21, 2022 with the United States Patent Trademark Office (USPTO), and Mike Kondoudis, a licensed trademark attorney, pointed out in a tweet on December 27.
The firm mainly focuses on the possibilities of offering a wide range of investment services in the metaverse. Including pension funds, mutual funds, financial planning and investment management. Fidelity also appears to be working on a metaverse based payment system and may include electronic fun transfers and bill payments and
“financial management of credit card accounts in the metaverse and other virtual worlds.”
In the crypto space, the filings suggest they may launch trading and management services in the metaverse and offer virtual currency wallets.
The archive reads: “Electronic wallet services in the form of electronic storage and processing of virtual currency for electronic payments and transactions via a global computer network.”
Furthermore, the investment giant says that educational services in the metaverse may be possible. They could conduct workshops, classes, conferences and seminars for field investment and financial services marketing.
The archives further state: “Providing business information to financial service providers by means of a website on the Internet, in the field of business marketing in the metaverse and other virtual worlds.”
Fidelity also has plans for NFTs, as its chief investment officer indicated that it may launch an online marketplace where buyers and sellers of NFTs are welcome. Further information about the platform is not available at this time.
This filing is good news for the industry as a giant like Fidelity, despite such demotivating conditions prevailing, is entering the market. Also, they plan to increase their exposure and offerings in Web3.
Unlike other crypto firms that laid off their employees, in October 2022 Fidelity wanted to expand the crypto unit by hiring a new staff of 100 members. This information cements their plans to take the crypto and metaverse industry by storm.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing
