Fidelity Launches NFT Marketplace and Crypto Services in the Metaverse

The world’s largest investment firm, Fidelity Investments, has filed trademark applications in the United States for a range of Web3 products and services, including a non-fungible token (NFT) marketplace and financial investment programs and cryptocurrency trading in the metaverse.

The organization submitted three trademark applications for NFTs & NFT Marketplaces; Investment services in the metaverse, investing in real estate, investing in cryptocurrency trading and others.

The Metaverse seems to be one of the most important areas of activity as Fidelity has indicated that it could offer a variety of investment proposals in digital worlds, such as mutual investment, retirement investment, l investment management and cash preparation to name a few.

Additionally, there appear to be plans for Metaverse-based transactional businesses such as B. digital bill payments, money transfers, and managing credit card accounts in the Metaverse and other banking transactions.

According to the documents, the company could also launch trading and management services, as well as electronic wallet services in the Metaverse. Electronic money services, also known as virtual money, digital money and virtual cryptocurrency tokens, involve the virtual storage and transmission of digital money for use in funds transfers and transactions online on a global computer network.

Fidelity remains bullish on cryptocurrencies

Only two months had passed since the second largest cryptocurrency exchange FTX crashed spectacularly before Fidelity filed its trademark applications. Additionally, most cryptocurrencies have lost 90% or more of their value since the start of the year.

Still, Fidelity appears to be sticking to its cryptocurrency intentions. One of the largest and oldest investment firms in the United States began offering early access to its cryptocurrency product, Fidelity Crypto, in early November. This application will allow commission-free trading of Bitcoin and Ethereum.

In April of this year, Fidelity announced that it would allow its employees to purchase bitcoin through its 401(k) retirement plans. This makes Fidelity the first well-known investment fund to achieve such a milestone. Regulators and industry players strongly condemned the move, especially after the FTX fiasco.

Conclusion

Fidelity is one of the largest investment companies in the world. His involvement in cryptocurrencies and the filing of numerous trademark applications for a variety of potential projects in the metaverse and crypto space provide much-needed proof that the wider blockchain community needs.

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