Fidelity Investments Ventures Into Metaverse to Offer Web3 Services

• Fidelity Investments has submitted a series of trademark applications for various NFT & Investment services.
• The firm will primarily focus on mutual funds, retirement funds, investment management, and more.

Fidelity Investments, the U.S based financial services corporation, has set out to enter the metaverse industry. According to Mike Kondoudis, a trademark attorney, the platform has recently submitted a series of trademark applications for non-fungible tokens (NFTs), NFT marketplaces, metaverse investments, virtual real estate investing, and cryptocurrency trading services. 

This is also supported by three trademark submissions made to the United States Patent and Trademark Office (USPTO) on December 21.

Fidelity Investments to Exploit Metaverse

Fidelity has indicated that it may provide a wide range of investing services within virtual worlds, including mutual funds, retirement funds, investment management, and financial planning. This appears to be one of the firm’s primary areas of interest.

According to the documents, the metaverse-based payment services, such as electronic bill payments, fund transfers, and the “management of credit card accounts in the metaverse and other virtual worlds” will appear to be in the platform’s functions. Additionally, the financial platform is also planning to provide virtual currency wallet services.

Fidelity Investments filing stated:

Electronic wallet services like 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 firm further mentioned that it might provide educational services in the metaverse by organizing conferences, workshops, seminars, and classes on marketing financial services as well as on investing. Moreover, as per Fidelity, it may potentially develop an online marketplace for buyers and sellers of digital media, particularly, NFTs.