Fidelity Investments Expands Into Metaverse With NFT Marketplace And Crypto Trading Platform

Fidelity Investments, a $4.5 trillion asset management company, has filed three trademark applications with the United States Patent and Trademark Office (USPTO) for a variety of Web3 goods and services, including an NFT marketplace and a crypto trading platform in the metaverse.

The applications, numbered 97727409, 97727473, and 97727439, were submitted on Dec. 21 and focus on non-fungible tokens (NFTs) that include text and visual content, as well as services related to virtual worlds.

You can buy and sell digital media on an online marketplace, get financial planning and investment advice through referral services that operate in the metaverse, invest in virtual real estate, and use exchange and trading services for cryptocurrencies.

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It is worth noting that the patent applications also focus on investing services for retirement accounts and mutual funds in the metaverse.

The educational offerings that Fidelity is considering include providing classes, workshops, seminars, and conferences in the field of investments and in the field of marketing financial services in the metaverse and other virtual worlds.

Despite the recent slump in cryptocurrency prices and the collapse of crypto exchange FTX and its sister company Alameda Research, Fidelity remains undeterred.

In fact, the company is trying to boost confidence in the crypto industry by introducing an early-access queue for Fidelity Crypto, a new product that will allow retail investors to trade Bitcoin BTC/USD and Ethereum ETH/USD from their phones with no fees.

Fidelity, the largest 401(k) retirement account provider in the United States, announced plans for this product in April of this year, which will give businesses and their employees access to Bitcoin.

Recently, Fidelity ramped up its hiring plan with the addition of 100 new people to its digital assets segment.

The fresh round of hiring will increase Fidelity Digital Assets' workforce to about 500 by the end of the first quarter of 2023.

The company first announced its intention to employ tech and customer service personnel in May. Since then, the division's headcount has doubled.

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