1 year ago
$4.2 trillion plus absorption steadfast Fidelity Investments has filed trademark applications successful the United States for a big of Web3 products and services, including a non-fungible token (NFT) marketplace and fiscal concern and crypto trading services successful the metaverse.
This is according to 3 trademark filings submitted to the United States Patent Trademark Office (USPTO) connected Dec. 21, of which was besides highlighted by licensed trademark lawyer Mike Kondoudis successful a Dec. 27 tweet.
— Mike Kondoudis (@KondoudisLaw) December 26, 2022One of the cardinal areas of the firm’s absorption appears to beryllium the Metaverse, with Fidelity indicating that it could connection a wide scope of concern services wrong virtual worlds including communal funds, status funds, concern absorption and fiscal readying to sanction a few.
It besides appears that metaverse-based outgo services could beryllium successful the works, including physics measure payments, money transfers and the “financial medication of recognition paper accounts successful the metaverse and different virtual worlds.”
In presumption of crypto, the filings bespeak that the steadfast could besides motorboat trading and absorption services successful the Metaverse, on with providing virtual currency wallet services.
“Electronic wallet services successful the quality of physics retention and processing of virtual currency for physics payments and transactions via a planetary machine network; integer currency, virtual currency, cryptocurrency integer token,” the filing reads.
Fidelity Investments Trademark filing: USPTOAdditionally, Fidelity outlines that it could connection acquisition services successful the Metaverse successful the signifier of “conducting classes, workshops, seminars and conferences successful the tract of investments and successful the tract of selling fiscal services.”
“Providing concern accusation to fiscal work providers by means of an net web site, successful the tract of concern selling successful the metaverse and different virtual worlds; referral services successful the tract of concern proposal and fiscal readying successful the metaverse and different virtual worlds” 1 filing reads.
NFTs are besides connected Fidelity's plans, stating that it could besides motorboat an “online marketplace for buyers and sellers of integer media, namely, non-fungible tokens,” nevertheless further details connected specified are sparse.
Related: Current infrastructure can't enactment the metaverse, says Huawei report
The latest filings from Fidelity amusement that the steadfast has not been spooked by the aggravated carnivore marketplace successful 2022 and caller FTX implosion, and is alternatively looking to summation its vulnerability and offerings in Web3.
The steadfast fundamentally outlined arsenic specified and called for stronger regularisation erstwhile responding to a Nov. 21 letter from crypto hating senators Elizabeth Warren, Tina Smith and Richard Durbin, which had called connected Fidelity to reconsider its Bitcoin (BTC) retirement products owed to the “volatile, tumultuous and chaotic” quality of crypto assets.
A Fidelity spokesperson told Cointelegraph astatine the clip that the institution "has ever prioritized operational excellence and lawsuit protection" and noted that "recent events" successful the crypto manufacture person lone "underscored the value of standards and safeguards."
It is besides worthy noting that backmost successful October, Fidelity was reportedly looking to beefing up its crypto portion by hiring 100 caller unit members, providing a stark opposition to a fig of crypto firms that person laid disconnected a important magnitude of employees this year.
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