International banking operator, HSBC, is introducing an investment fund which prepares the company for its launch into the metaverse.
The discretionary fund will be managed in a portfolio for possible investors looking for opportunities in the increasingly intriguing metaverse.
The announcement of the investment fund accelerates HSBC’s plans for the metaverse, as recently as last month, the bank bought virtual real estate in the ‘sandbox metaverse’.
With HSBC stating the “metaverse is expected to become the next iteration of the internet”, the managed portfolio will focus on five key areas.
Infrastructure, computing, virtualization, experience and discovery, and human interface are all areas in which HSBC are looking to maximise the potential of working within the metaverse.
“The metaverse ecosystem, while still at its early stage, is rapidly evolving,” said Lina Lim, Regional Head of discretionary and funds for investments, Asia Pacific, at HSBC.
“We see many exciting opportunities in this space as companies of different backgrounds and sizes are flocking into the ecosystem.”
Citi, a global financial institution, estimates that the metaverse is projected to be in the “range of $10 trillion plus”, with the market expected to be somewhere between $8 – $13 trillion by 2030.