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In this week’s newsletter, read about investment giant Fidelity planning to enter the nonfungible token (NFT) space and how Italy’s NFT market will grow. Check out how North Korean hackers use phishing websites to target NFT holders and listen to a conversation with Crypto Raiders in the NFT Steez podcast. And, don’t forget this week’s Nifty News featuring Japanese gaming firm Square Enix investing millions in an NFT game developer. 

Fidelity plans NFT marketplace and financial services in the metaverse

On Dec. 21, investment firm Fidelity filed three trademark applications to the United States Patent Trademark Office. The trademark filings cover NFTs, NFT marketplaces and metaverse investment services, suggesting that the firm has plans to enter the space.

One of the firm’s focuses appears to be the metaverse, showing that it may someday offer investment services within virtual worlds. The offerings may include various funds like mutual funds and retirement funds.

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Italy to create the crypto art renaissance: NFT market report

A recent report released by Research and Markets predicted that Italy is set to have a 47.6% growth in its NFT market by the end of 2022. With this, 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.

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North Korean hackers stealing NFTs using nearly 500 phishing domains

A day before Christmas, blockchain security firm SlowMist highlighted that North Korean hackers had launched a broad campaign targeting NFT users. According to the report, the attackers created almost 500 phishing domains to lure potential victims.

Some websites have impersonated popular NFT marketplaces like OpenSea, X2Y2 and Rarible. The fake websites have also tried to imitate a project associated with the recent World Cup.

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Nifty News: Square Enix invests into NFT gaming firm, Beeple speaks on NFT art future and more

Japanese gaming giant Square Enix recently invested around $53 million to create mobile and blockchain games and start a metaverse initiative. An announcement hinted that the company is partnering with game developer Gumi to make a game-NFT-focused marketplace.

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Check out Cointelegraph’s NFT Steez podcast

Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.