The Metaverse Discretionary Strategy portfolio, according to the bank, attempts to capitalise on opportunities created by the next iteration of the internet.
HSBC, one of the world’s major banks, is launching a discretionary managed portfolio in the virtual world for its Asian private banking clientele.
The plan intends to capitalise on global growth prospects created by the metaverse ecosystem’s expansion over the next decade, the bank said in a statement, noting that the “metaverse is predicted to become the next version of the internet.”
The metaverse is a virtual reality, augmented reality, and internet-enabled immersive digital universe. HSBC said in March that it has become the first global bank to enter The Sandbox metaverse by purchasing a parcel of land dedicated to engaging sports, e-sports, and gaming lovers. Citi reported last week that the entire addressable market for the metaverse economy might reach $13 trillion by 2030.
The portfolio will be actively managed, with a particular emphasis on five critical areas, according to the bank: infrastructure, computing, virtualization, experience and discovery, and human interface.
The approach will be available exclusively to HSBC’s professional and accredited investor clients in Asia with a high net worth or ultra-high net worth. HSBC Asset Management will manage it.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.