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Fidelity Files Trademark To Offer Financial Services In The Metaverse

Fidelity Investments, an investment giant firm, has submitted trademark filings in the US to offer some Web3 products and services in the digital world. Additionally, the filing reveals that Fidelity will launch an NFT marketplace and offer crypto trading and financial education services.

Fidelity Investments Submits Three Trademark Filings

Mike Kondoudis, a trademark attorney, announced the news in a December 27th tweet. Fidelity submitted three trademark applications on December 21st to the United States Patent Trademark Office.

One major part of the company’s plan is the metaverse. The filing indicates the firm’s plan to offer various investment services such as financial planning, investment management, retirement funds, and mutual funds in virtual worlds.

Fidelity could work on its metaverse-based payment system, allowing fund transfers and electronic bill payments. Also, the company has its eyes on cryptocurrencies despite the latest FTX implosion.

Fidelity will introduce crypto trading and wallet services in the virtual world. In addition, Fidelity plans to provide educational services in the virtual space.

These services would take the form of conferences, workshops, classes, and seminars that will teach people about investments and financial services. Furthermore, Fidelity will offer financial planning and investment advice in the metaverse.

The firm will also provide financial service providers with business information. This information will teach financial firms how to market their businesses in the metaverse, including other digital worlds.

Fidelity To Launch An NFT Marketplace

Another part of Fidelity’s plan is NFTs. According to the filing, the investment manager wants to launch an NFT marketplace for sellers and buyers of digital media.

Meanwhile, Fidelity’s latest filing shows that the prolonged bearish market has not affected the company’s Web3 moves in 2022. Instead, Fidelity wants to increase its offering and exposure to the Web3 space.

On November 21st, US senators Elizabeth Warren, Richard Durbin, and Tina Smith wrote a letter to Fidelity Investments. In the letter, the senators asked the company to reconsider its Bitcoin retirement offerings citing the volatile nature of Bitcoin.

In response to the letter, Fidelity asked for more regulations in the crypto space to protect investors. A spokesperson noted that Fidelity always prioritizes user protection and operational excellence.

The spokesperson said the recent crisis in the crypto space shows the need for “standards and safeguards.” Furthermore, Fidelity revealed in October that it plans to employ 100 new staff in its crypto unit.

This move is in stark contrast to the increased employee layoff rate across crypto firms in 2022. Despite the present market crisis, Fidelity remains bullish in the crypto and Web3 sectors.