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As part of its most recent expansion into the world of cryptocurrencies, Fidelity has taken the first step by submitting three trademark applications for the provision of services in the metaverse. According to the documents filed, the company also seeks to offer its conventional financial services in different virtual realities.
Fidelity Trademarks Metaverse
As reported by trademark attorney Mike Kondoudis, the company has just submitted a suite of trademark applications covering, among other things, non-fungible tokens (NFTs), NFT marketplaces, metaverse investment opportunities, digital real estate investing, and cryptocurrency trading.
#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 has adopted digital assets more quickly than the majority of other major financial firms, and in October it announced plans to add 100 more cryptocurrency professionals to bring the total size of its digital asset team to 500.
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In spite of the prolonged bear market, Fidelity is continuing to expand its holdings in the space. The waiting list for Fidelity Crypto, a cryptocurrency product oriented toward retail clients, was opened back in November by the conglomerate.
Fidelity’s Crypto Push
In April, the firm made headlines when it announced that they are considering Bitcoin for inclusion in its 401(K) plans as a potential investment option. It was then requested by three United States senators that the decision to enable retirement plan members to invest in cryptocurrencies be reconsidered and negated. According to the senators, the industry has grown increasingly “volatile, tumultuous and chaotic.”
Additionally in October, Fidelity Digital Assets started facilitating the trading of Ethereum (ETH) for its institutional customers as well. The new disclosures that Fidelity has made in relation to the metaverse are certainly noteworthy given the fact that the company manages assets worth $2.7 trillion.
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