For a variety of Web3 products and services, including a nonfungible token (NFT) marketplace, financial investing services, and crypto trading services in the metaverse, investment behemoth Fidelity Investments has filed trademark applications in the United States. trademark lawyer Mike Kondoudis highlighted that Fidelity filed three trademarks with the United States Patent and Trademark Office (USPTO).
Fidelity has indicated that it is capable of offering a broad range of investment 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 focus.
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 works for the metaverse.
According to the documents, the company may offer virtual currency wallet services in addition to trading and management services in the metaverse. Electronic wallet services include “digital currency, virtual currency, and crypto digital tokens” that are stored and processed electronically for use in payments and transactions over a global computer network.
“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.”
In addition, Fidelity suggests that it might provide educational services in the metaverse by holding conferences, workshops, seminars, and classes on marketing financial services and investing.
According to a different filing, Fidelity will offer financial service providers business information via an online website in the areas of marketing for businesses in the metaverse and other virtual worlds as well as referral services for financial planning and investment advice in these same virtual worlds.
“Providing business information to financial service providers by means of an internet web site, in the field of business marketing in the metaverse and other virtual worlds; referral services in the field of investment advice and financial planning in the metaverse and other virtual worlds”
The most recent filings from Fidelity demonstrate that the company is seeking to expand its exposure and offerings in Web3 rather than being alarmed by the severe bear market in 2022 and recent FTX catastrophe.
In its response to a letter sent by anti-crypto lawmakers Elizabeth Warren, Tina Smith, and Richard Durbin on November 21 asking Fidelity to reconsider its Bitcoin retirement products due to the “volatile, tumultuous, and chaotic” nature of crypto assets, the company essentially outlined as such and called for stronger regulation.