Investment app eToro has expanded its offering into the digital space through the launch of MetaverseLife.
The new metaverse-themed Smart Portfolio boosts the capabilities of investors with long-term exposure to key projects, both stocks and cryptoassets, in the metaverse industry.
Dani Brinker, Head of Investment Portfolios at eToro commented: “As the ultimate frontier between the real and virtual worlds, the metaverse represents the most likely evolution of the internet in the coming years. The potential might seem endless, but adoption will not necessarily be easy or happen overnight.
“The metaverse will require larger processing capacity, bandwidth and improvements to hardware – headsets, glasses, smartphones and cloud services. While still in its early stages, the industry could become a $800 billion USD market, according to Bloomberg analysts.”
The move marks eToro doubling down on the growth of tech and embracing the digital space – the metaverse being a virtual world that enables users to move around as avatars and interact socially and economically with other people.
The metaverse also compliments the rapid growth of NFTs, which have continued to be a source of consumer engagement amongst a younger audience.
Microsoft is creating a metaverse through its communication platform Teams called Mesh; Unity Software with its three-dimensional content platform, NVIDIA’s Omniverse platform, and video game publishers like Roblox, EPIC Games and more recently Ubisoft with the launch of their energy-efficient NFT platform, are beginning to show interest in this technology and getting a head start in this potential migration to the metaverse.
The MetaverseLife portfolio is made up of stocks and cryptoassets that represent the real essence of the metaverse. It is more heavily weighted towards the enabling platforms that will create these metaverses such as stocks Meta Platforms and Roblox, and cryptoassets or blockchain-based metaverse platforms Decentraland, Sandbox and Enjin.
The portfolio also contains familiar tech names that will contribute to the wider adoption of the metaverse such as Amazon, Apple, Microsoft and Nvidia. The full portfolio allocation can be seen here.
Brinker added: “When evaluating the investment opportunity of emerging industries diversification is key as not everyone involved will be a winner. For people who don’t have the time to research the ongoing developments of the industry, the market may seem overwhelming. By packaging up a selection of assets in a portfolio, we’re doing the heavy lifting and enabling our customers to gain exposure to the metaverse and spread the risk across a variety of assets.”
Tomer Niv, Director of Global Crypto Solutions at eToro, concluded: “eToro is a crypto pioneer with an established track record of embracing new technologies for the benefit of retail investors. We are incredibly excited by the opportunities offered by the metaverse and will be revealing further details including some key partnerships very soon. Watch this space.”