Asset manager Fidelity enters the metaverse and NFT

The large Fidelity Investments was already busy with bitcoin (BTC), but is now also focusing on the metaverse. The wealth manager that manages trillions of dollars in assets for clients has three US patents pending for certain services in the metaverse.

What will Fidelity do?

Among other things, the plan is to embrace non-fungible tokens (NFT) and NFT marketplaces. Fidelity wants to offer similar services in the metaverse as it does in real life. So you should think of things like digital real estate, trading cryptocurrencies and other ways to invest in the metaverse.

Fidelity is a forerunner in the crypto industry compared to its competitors. The severe bear market we are experiencing at the moment does not seem to affect the confidence in the future of the industry.

In October, the company indicated that it probably wants to hire around 100 extra people, increasing the asset manager’s digital assets team to 500 people. In November opened Fidelity the opportunity for retail investors to trade commission-free in the crypto world.

Not everyone is happy

Incidentally, not everyone is happy with the steps Fidelity is taking in this industry. The asset manager is also working on giving Americans the opportunity to invest part of their pension in bitcoin. That goes for some US senators too far.

They are particularly concerned about the volatility and the risk that this investment entails for Americans’ pensions. The senators in question have already asked Fidelity to reconsider this move several times.

Among other things, the collapse of FTX was used as an example to show that the industry is still volatile and chaotic. So you see that the implosion of FTX still has a significant impact on the industry.

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