Fidelity Explores Possibilities In The Metaverse, Plans To Launch NFT

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  • Fidelity files three trademark applications, delving into the metaverse with huge plans. 
  • The firm leverages key areas like virtual real estate investments, NFT trading, and marketplace services. 
  • Fidelity’s belief in digital assets has not wavered even after the implosion of FTX, with the firm poised to create more impact in the sector. 

Investment giant Fidelity is set to make inroads in the metaverse as its latest efforts in the development of web3 to the delight of metaverse users.

The firm filed three trademark applications in the United States covering a host of web3 products and services including, virtual real estate investments, cryptocurrency trading, and NFT marketplaces, among others. The investment giant’s latest move has kept users gleeful as they await the offerings in the metaverse. 

According to the filings, the company is also looking at investment services for mutual and retirement funds in the metaverse. Another area is the provision of educational services and multiple conferences in digital reality platforms. 

conducting classes, workshops, seminars, and conferences in the field of investments and in the field of marketing financial services in the metaverse and other virtual worlds,” read the filing.

A metaverse electronic payment will also be rolled out as the filing states, “financial administration of credit card accounts in the metaverse and other virtual worlds.” 

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Digital asset trading services in the metaverse will incorporate NFTs, cryptocurrencies, and electronic wallet services alongside a financial management advisory service in virtual real estate and referral 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.” 

Fidelity’s digital asset drive 

Fidelity Investment’s push in cryptocurrencies this year has been nothing short of excellent despite the heavy criticisms by some lawmakers on its recent crypto offerings and the market downturn. In April, the firm announced plans to offer companies and their employees access to Bitcoin (BTC) in their 401(k) retirement accounts. 

The investment company also launched Fidelity Crypto, a service that allows retail investors to trade Ethereum (ETH)  and BTC at zero fees from their phones. In October, the company increased its digital asset division by hiring 100 employees instead of other top firms laying off staff.

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