Fidelity has submitted a trademark application to make its entry into the metaverse. According to this filing, the firm aims to extend its traditional services into the metaverse universe.
Fidelity enters the Metaverse
Fidelity is making strides to become more active in the Web3 sector. As per their application, the company intends to offer a range of services in the metaverse universe, including applications, NFTs, an NFT marketplace, virtual real estate investing, cryptocurrency trading, and metaverse investment services.
The firm is embracing digital assets more rapidly than other large investment companies. In line with this, Fidelity has initiated steps to expand its digital asset team to 500 members.
Following its initial announcement, the firm also introduced commission-free retail accounts in November.
Fidelity’s foray into crypto has elicited mixed reactions. Three U.S. senators have urged the company to reconsider its decision, citing the cryptocurrency industry’s increasing volatility and turbulence.
Previously, the company had also launched a Bitcoin-focused retirement plan.
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