Fidelity initiates filings for metaverse trademarks

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Key takeaways:

  • Fidelity recently applied for metaverse trademarks in the US to offer investing and other options in the virtual world.
  • Additionally, Fidelity plans to introduce e-wallet services that involve the electronic processing and storage of virtual money for payments.

Fidelity has started the process of exploring the cryptocurrency market by submitting three trademark applications for the offering of services in the metaverse.

According to the documents, the company seeks to offer its conventional services in other realities. The applications make reference to NFTs, NFT marketplaces, investing in virtual properties, trading cryptocurrencies, and metaverse investment services.

According to trademark lawyer Mike Kondoudis, the business tweeted about the most recent registrations. Fidelity, which has embraced digital assets more rapidly than the bulk of other large financial institutions, announced intentions to hire 100 more experts in the cryptocurrency field in October, bringing the team’s total size to 500.

By becoming the first significant retirement plan provider to permit customers to include a bitcoin account in their 401(k)s, Fidelity Investments created history in April. Although employees were not  able to immediately start investing in cryptocurrencies, the 23,000 employers that rely on Fidelity to manage their retirement plans will have the opportunity to do so in late 2022.

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

The “financial administration of credit card accounts in the metaverse and other virtual worlds” as well as electronic bill payments, fund transfers, and other payment services seem to be in the pipeline for the metaverse.

Fidelity also plans to introduce e-wallet services that include electronic storage and handling of virtual currency for electronic payments and transactions over a global computer network. These services will also include trading in digital currency, virtual currency, cryptocurrency, digital tokens, and utility tokens.

Fidelity plans to hold conferences, workshops, seminars, and classes on investing and the metaverse’s financial services marketing.

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Aadrika Sharma
Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

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