Fidelity Plans to Expand in NFT and Metaverse Sectors, Trademark Filings Show

Fidelity Investments has filed for a total of three trademark applications.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 27 December 2022 13:02 IST

Fidelity Plans to Expand in NFT and Metaverse Sectors, Trademark Filings Show

Photo Credit: Facebook/ Fidelity

Fidelity is also looking to bring about a digital wallet to help people store their assets

Highlights

Fidelity is a US-based company founded in 1946
Fidelity is looking to engage more directly with Web3 elements
Fidelity has been adding crypto services to its retirement plans

The NFT and metaverse sectors did not particularly see an exceptionally profitable run this year. Despite the ongoing market downturn, Fidelity has planned to expand its presence in the Web3 sectors of NFTs and the metaverse. The US-based investment giant is looking to offer financial and investment services to people around the world, in the metaverse. The company has filed for three trademark applications, that indicate its interest in launching a crypto trading and management services in a fully functional virtual universe ecosystem.

Mike Kondoudis, a trademarks attorney lawyer famed for sharing glimpses into newly filed applications on Twitter, posted about Fidelity's upcoming Web3 plans.

The screenshot of Fidelity's filings shared by Kondoudis indicated that the company is exploring avenues to launch a service for ‘virtual real estate' investing, that would help people purchase plots in the metaverse.

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#Fidelity has plans for the metaverse!

The company has filed 3 trademark applications covering
:arrow_forward: NFTs + NFT Marketplaces
:arrow_forward: Metaverse Investment Services
:arrow_forward: Virtual Real Estate Investing
:arrow_forward: Cryptocurrency Trading
... and more!#NFTs #Metaverse #Crypto #Web3 #Defi #Finance pic.twitter.com/op9fg80e7z
— Mike Kondoudis (@KondoudisLaw) December 26, 2022

Fidelity Investments, founded in 1946 in Boston, US, is touted as one of the largest asset managers in the world.

The company has been showing undeterred interest in the crypto sector, despite the volatility associated with the digital assets.

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In April this year, Fidelity Investments announced that its 401(k) plan — a retirement savings plan offered by a host of US-based companies with added tax benefits — that would allow participants to invest up to 20 percent in Bitcoin, via its retirement plan.

Later in June, Fidelity Investments digital assets arm had promised to double down on hiring to serve clients who want to invest in crypto assets.

Now the company is planning to dive deeper into the Web3 sphere while also looking to bring about a digital wallet to help people store their assets.

As of September this month, over 3,600 trademark applications were filed around the sectors of cryptocurrency, Web3, metaverse, and NFTs in the US.

The month of March this year, recorded maximum NFT-related applications having been filed at 1,078.

Will crypto tax hurt the industry in India? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Further reading: Cryptocurrency, Fidelity Investments, Metaverse, NFT

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More