Fidelity files trademark applications for NFT-marketplace

Sahana Kiran
Source – Unsplash

Despite the heat of the bear market, adoption did not take a backseat in the crypto industry. Throughout the year, prominent firms have made big moves in the crypto market. Fidelity, one of the largest brokerages in the world rolled out commission-free crypto trading for its retail investors. Time and again, the firm was seen embracing Bitcoin. Now, Fidelity is turning its focus from Bitcoin to NFTs.

As per a recent trademark application filed in the United States, Fidelity Investments was getting ready to roll out a slew of Web3 products and services. This application also mentioned a non-fungible token [NFT] marketplace along with crypto trading services in the metaverse.

Licensed trademark attorney Mike Kondoudis took to Twitter and revealed that three trademark filings were submitted to the United States Patent Trademark Office [USPTO]. It should be noted that these applications by Fidelity were filed back on December 21, 2022.

NFTs have been on the low for quite some time. The fervor around NFTs drove major platforms into the space. Sadly with the advent of the bear market, the NFT space simmered down. Quite surprisingly, Fidelity was seen diving into space.

In its application, the firm revealed that would roll out an “online marketplace for buyers and sellers of digital media, namely, non-fungible tokens.”

This further highlighted the fact that NFTs were still relevant and could be a prominent investment.

Fidelity to take a leap into the Metaverse

Fidelity is further interested in developing the Metaverse, as can be seen in the tweet up above. The platform wants to provide a variety of investment services in the Metaverse. It entails bringing into the virtual world real-world investing services such as mutual funds, retirement funds, investment management, and financial planning.

Additionally, Fidelity is also anticipated to introduce a payment mechanism based on the metaverse. This service may include electronic bill payments, fund transfers, and financial management of credit card accounts in the metaverse along with other virtual worlds.

Furthermore, Fidelity’s Web3 interest wasn’t limited to the Metaverse and NFTs alone. The application noted that educational services would be carried out in the Metaverse. Classes, workshops, seminars as well as conferences pertaining to investments and financial services are expected to take place.