Fidelity plans NFT marketplace and financial services in metaverse

• Fidelity Investments has filed trademark applications in the U.S. for a variety of Web 3.0 services.
• Metaverse-based payment services such as electronic bill payments, fund transfers, and credit card account management are also on the cards.

Fidelity Investments, an American asset management firm, has filed trademark applications in the United States for a variety of Web3 products and services, including a non-fungible token (NFT) marketplace as well as financial investment and crypto trading services in the metaverse.

Mike Kondoudis, a licensed trademark attorney, shared the information on Twitter. The details are contained in three trademark filings submitted to the United States Patent and Trademark Office (USPTO) on 21 December.

One of the firm’s primary areas of focus appears to be the metaverse, with Fidelity indicating that it may offer a variety of investment services within virtual worlds, such as mutual funds, retirement funds, investment management, and financial planning.

Metaverse-based payment services such as electronic bill payments, fund transfers, and credit card account management are also on the cards.

Services expansion amidst crypto winter

The company may offer trading and management services in the metaverse, in addition to virtual currency wallet services. E-wallet services include storing and processing electronic payments and transactions over a global computer network, viz. virtual currency, and cryptocurrency tokens.

Fidelity also plans to offer financial service providers business information in the field of business marketing and financial planning in the metaverse and other virtual worlds, referral services in the field of investment advice.

Furthermore, Fidelity suggests that it could provide educational services in the metaverse in the form of classes, workshops, seminars, and conferences in the fields of trading and financial services marketing.

Fidelity also plans to launch an online marketplace for buyers and sellers of non-fungible tokens (NFTs), though we still await further details if any.

Fidelity doesn’t seem to be affected by the bearish trend in the crypto market this year following FTX’s collapse. It is instead looking to increase its exposure and offerings in Web 3.0.

As per reports in October, Fidelity was looking to further its crypto operations by hiring 100 new staff members. This is in stark contrast to a large number of crypto firms that have fired a significant amount of employees this year.