Fidelity Trademark Teases Plans For The Metaverse and NFT Marketplace
Fidelity Trademark Teases Plans For financial services in The Metaverse and a potential NFT Marketplace. Fidelity’s trademark filings with the USPTO suggest that the company is looking to increase its presence and offerings in the Web3 space
The financial giant Fidelity Investments, has recently filed trademark applications with the US Patent and Trademark Office (USPTO) for a variety of Web3 products and services. These include a non-fungible token (NFT) marketplace and financial investment and cryptocurrency trading services in the metaverse.
The metaverse, and Fidelity’s plans for it include offering a range of investment services such as mutual funds, retirement funds, and financial planning. The company is also looking to provide payment services in the metaverse, including electronic bill payments, fund transfers, and credit card account management. In addition to these financial services, Fidelity also plans to offer educational services in the metaverse, including conducting classes, workshops, seminars, and conferences in the field of investments and marketing financial services.
Fidelity’s plans for the NFT marketplace are somewhat less clear. The company has stated that it could launch an “online marketplace for buyers and sellers of digital media, namely, non-fungible tokens,” but has not provided any further details on this.
On December 27th, licensed trademark attorney Mike Kondoudis shared information on Twitter about three trademark filings submitted by Fidelity Investments to the US Patent and Trademark Office (USPTO) on December 21st.
#Fidelity has plans for the metaverse!
The company has filed 3 trademark applications covering
▶️ NFTs + NFT Marketplaces
▶️ Metaverse Investment Services
▶️ Virtual Real Estate Investing
▶️ Cryptocurrency Trading
… and more!#NFTs #Metaverse #Crypto #Web3 #Defi #Finance pic.twitter.com/op9fg80e7z
— Mike Kondoudis (@KondoudisLaw) December 26, 2022
Fidelity’s trademark filings with the USPTO suggest that the company is looking to increase its presence and offerings in the Web3 space. While the Web3 space has had its share of ups and downs, with the bear market in 2022 and the collapse of the FTX exchange, Fidelity’s plans suggest that the company is bullish on the potential of this space.
Fidelity interest and overall stance in the crypto world has been fairly persistent in recent months. In October, the company launched an Ethereum index fund, indicating its intention to expand its digital asset portfolio despite the bearish market.
In November, Fidelity also began offering retail cryptocurrency trading accounts for bitcoin and ether. In addition, the company has made efforts to educate consumers about the potential of cryptocurrency by creating an “immersive educational metaverse experience” in Decentraland, a virtual world based on Ethereum. However, Fidelity will face competition from major banks in this space, as JPMorgan Chase has also launched a blockchain-based network in Decentraland called “Onyx”, along with hinting their interests in other aspects of the industry. Despite the competition, Fidelity’s recent moves show that it is confident in the potential of the cryptocurrency market and is willing to take risks to establish a foothold in this space.
It is worth noting that Fidelity’s trademark filings with the USPTO do not necessarily mean that the company will follow through on these plans. Trademark filings are often used to protect intellectual property and to prevent others from using similar names or branding. However, the fact that Fidelity is taking the time to file for these trademarks does suggest that the company is serious about exploring the possibilities of the Web3 space, and is looking to stake a claim in this area.
Overall, Fidelity’s trademark filings with the USPTO are an interesting development in the Web3 space. While it is not clear exactly what the company has planned, the fact that it is looking to enter the metaverse and offer NFT-related services suggests that it sees significant potential in these areas. It will be interesting to see how Fidelity’s plans develop in the coming months and years, and how the company’s entry into the Web3 space will impact the broader financial service industry.
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