December 29, 2022
By Anjali Kochhar
Investment giant Fidelity Investments has filed trademark applications in the United States for Web3 products and services, including a nonfungible token (NFT) marketplace and financial investment and crypto trading services in the metaverse.
One of the key areas of the firm’s focus appears to be the metaverse, with Fidelity indicating that it could offer a wide range of investment services within virtual worlds including mutual funds, retirement funds, investment management and financial planning.
As per the filings, metaverse-based payment services could be in the works, including electronic bill payments, fund transfers and the “financial administration of credit card accounts in the metaverse and other virtual worlds.”
The filings further indicate that the firm could launch trading and management services in the metaverse, along with providing virtual currency wallet services.
“Electronic wallet services in the nature of electronic storage and processing of virtual currency for electronic payments and transactions via a global computer network; digital currency, virtual currency, cryptocurrency digital token,” the filing reads.
Additionally, Fidelity outlines that it could offer educational services in the metaverse in the form of “conducting classes, workshops, seminars and conferences in the field of investments and in the field of marketing financial services.”
“Providing business information to financial service providers by means of an internet web site, in the field of business marketing in the metaverse and other virtual worlds; referral services in the field of investment advice and financial planning in the metaverse and other virtual worlds,” one filing reads.
NFTs are also in Fidelity’s plans, with the investment manager stating that it could launch an “online marketplace for buyers and sellers of digital media, namely, non-fungible tokens.” However, further details on such are sparse.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.