Fidelity Joins Growing NFT Space as Italy’s Market Set to Boom, North Korea Targets Holders

• Fidelity recently filed trademarks to enter the NFT and Metaverse space.
• Italy is predicted to have a 47.6% growth in its NFT market by the end of 2022.
• North Korean hackers are targeting NFT holders with phishing websites.

Investment giant Fidelity recently made headlines when it filed three trademark applications to the United States Patent Trademark Office. The trademarks cover NFTs, NFT marketplaces and metaverse investment services, indicating that the firm is planning to enter the nonfungible token (NFT) space. Fidelity’s focus appears to be the metaverse, which could possibly mean that the firm is planning to offer investment services within virtual worlds.

Additionally, a report released by Research and Markets predicted that Italy is set to experience a 47.6% growth in its NFT market by the end of 2022. This will mean that the Italian NFT market’s total value will be $671 million. The report also projected that the country’s NFT industry will have an annual growth rate of 34.6% for the next five years, with the spending value predicted to hit around $3.6 billion in 2028.

Unfortunately, North Korean hackers are taking advantage of the surge in NFTs by targeting unsuspecting holders with phishing websites. The hackers are using the websites to steal users’ personal and financial information, as well as their NFTs.

It appears that the NFT space is continuing to grow in popularity and interest. With Fidelity’s plans to enter the NFT space, Italy’s growing NFT market, and North Korean hackers targeting unsuspecting holders, the NFT space is certainly growing and changing rapidly. It will be interesting to see how the space will continue to develop in the coming months and years.

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