• Sat. Jul 20th, 2024

Invesco Introduces Metaverse Fund For Metaverse Firms 

Aug 23, 2022

According to reports, a global investment firm has launched a metaverse fund to help startups globally. This fund would allow metaverse-based firms to access technology and tools that would improve their activities. 

Invesco Unveils Metaverse Fund 

Invesco, an International investment management firm, has unveiled a metaverse fund for metaverse-driven firms. The company plans to invest in small, middle, and large firms.

Those who would benefit from the funding include companies in Europe, the US, and Asia. Also, the report said the company would compare the fund’s performance against the global equity index MSCI ACWI. 

This index represents over 85% of investible equities globally. Also, James McDermottroe and Tony Roberts, executives at the company, would manage the funds acting as the deputy fund manager and fund manager, respectively. 

Although the investment amount is unknown, media reports stipulate it is over $30 million. Meanwhile, Robert believes the VR and AR market will be worth over $1.6 trillion by 2030.

In 2022, several firms, including non-tech firms, have released several investment funds for the metaverse. For example, Qualcomm released a metaverse fund of over $100 million.

Additionally, Fidelity, a popular investment firm, said it would release new products for the metaverse market. Companies like Meta have also made huge investments in the metaverse.

Increased Usage Of Crypto In The Metaverse Could Cause Financial Instability 

While speaking to Citywire, Robert said the usage of the metaverse in the entertainment sector is well understood. However, the interconnectivity of the metaverse would cut across various sectors like education, healthcare, logistics, and sports. 

However, Invesco noted that the investment’s main aspects go beyond the metaverse’s popular segments. The major themes are devices and hardware allowing users to access the metaverse, blockchain tech, and other tools needed to foster interoperability.

The executive stated that the firm would use a highly selective and value-conscious approach to evaluate the usage of the fund. Invesco UK’s head of distribution, Alexander Millar, said the company would continue offering users solutions for nascent technologies. 

In other news, a group of researchers at the BoE (Bank of England) said increased crypto usage in the metaverse is dangerous. This is because most users would move their funds to the metaverse, leading to financial instability. 

According to Be[In]Crypto, two researchers, Teresa Cascino and Owen Lock talked about regulating crypto asset usage in the metaverse. As stated by the researchers, regulators must issue regulations to govern the usage of crypto assets in the metaverse before it reaches catastrophic levels.

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