The world’s largest investment firm, Fidelity Investments, has submitted trademark requests in the US for a variety of Web3 goods and utilities, which included a Non Fungible Token (NFT) marketplace and financial investing and cryptocurrency trading programs in the metaverse
Fidelity has goals for the Metaverse
The organization submitted three trademark applications for NFTs & NFT Marketplaces; Investment Services in the Metaverse, Investment in real estate, investment in trading cryptocurrencies, and others.
The metaverse seems to be among the key areas of business interest as Fidelity has indicated that it may provide a variety of investing offerings in digital worlds, such as mutual money, pension money, management investments, and monetary preparation, to mention a few.
Also, it seems that there may be plans for metaverse-based transaction operations, such as digital bill payments, money transfers, and the management of credit card accounts inside the metaverse and other banking operations.
According to the documents, the business might also introduce trading and administration services, as well as electronic money wallet services, in the Metaverse. Electronic money services, also known as virtual cash, digital money, and cryptocurrency virtual token, involve the virtual preservation and transmission of digital money for use in online transfers and transactions over a worldwide computer network.
Fidelity Remains Bullish on Crypto
Only two months have passed since the second-largest cryptocurrency exchange FTX spectacularly crashed before Fidelity filed its trademark applications. Furthermore, since the year’s beginning, the majority of cryptocurrencies have lost 90% or more of their value.
Fidelity appears to be sticking to its cryptocurrency intentions, nevertheless. One of the biggest and oldest investing firms in the United States began providing early access to its cryptocurrency product, Fidelity Crypto, at the beginning of November. This app will enable commission-free trading of Bitcoin and Ethereum.
Fidelity stated in April of this year that it will allow employees to purchase Bitcoin through its 401(k) retirement plans. They are the first notable investment fund to take such a step. Regulators and industry participants have harshly condemned the action, particularly following the FTX fiasco.
Final Thoughts
Fidelity is among the biggest investment firms in the world. Its involvement in the cryptocurrency space and its filing of numerous trademark applications for a variety of potential projects in the metaverse and the crypto sectors provide the much-needed proof the larger blockchain community requires.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.
