Investment giant Fidelity Investments has filed US trademark applications for a suite of Web3 products and services, including the non-fungible token (NFT) marketplace, financial investments and cryptocurrency trading services in the metaverse.
That’s according to three trademark filings filed with the United States Patent and Trademark Office (USPTO) on Dec. 21, which licensed trademark attorney Mike Kondodis highlighted in a Dec. 27 tweet.
#devotion She has plans for the metaverse!
The company has filed 3 trademark applications covering
▶️ NFTs + NFT Markets
▶️ Metaverse Investment Services
▶️ Virtual real estate investment
▶️ Cryptocurrency trading
…and much more! #NFTs # Metaverse # encrypt #web3 #divi #finance pic.twitter.com/op9fg80e7z
– Mike Kondoudis (@KondoudisLaw) December 26, 2022
The metaverse appears to be one of the main areas of focus for the company, as Fidelity notes that it can offer a wide range of investment services in virtual worlds, including mutual funds, pension funds, investment management, and financial planning.
It also appears that metaverse-based payment services may be in the works, including electronic bill payments, money transfers, and “financial management of credit card accounts in the virtual world and other virtual worlds.”
In terms of crypto, the filing indicates that the company could launch trading and management services in the metaverse, as well as provide virtual currency wallet services.
Electronic wallet services in the nature of electronic storage and virtual currency processing of electronic payments and transactions over a global computer network; Digital currency, virtual currency, and digital token for cryptocurrency,” the document reads.
In addition, Fidelity describes that it can provide educational services in the metaverse in the form of “classes, workshops, seminars, and conferences in the field of investments and in the field of financial services marketing.”
“Provide commercial information to financial service providers via a website on the Internet, in the field of commercial marketing in virtual worlds and other virtual worlds; reference services in the field of investment advisory and financial planning in virtual worlds and other virtual worlds,” one of the documents states.
NFTs are also in Fidelity’s plans, with the investment manager stating it could launch “an online marketplace for buyers and sellers of digital media, i.e., non-fungible tokens,” but there is a dearth of detail on this.
Fidelity’s recent filings show that the company isn’t afraid of the severe bear market in 2022 and the recent implosion of FTX, and is instead looking to increase its exposure and offering on Web3.
The company essentially described it as such and called for stronger regulation in response to a Nov. 21 letter from crypto-haters Senators Elizabeth Warren, Tina Smith, and Richard Durbin, who urged Fidelity to reconsider its Bitcoin (BTC) retirement products due to the “nature” volatile, noisy and chaotic” of crypto assets.
A Fidelity spokesperson told Cointelegraph at the time that the company has “always prioritized operational excellence and customer protection,” and noted that “recent events” in the crypto industry “have only emphasized the importance of standards and safeguards.”
It’s also worth noting that in October, Fidelity was looking to boost its crypto unit by hiring 100 new employees, a stark contrast to many crypto companies that have laid off a large number of employees this year.