HSBC, one of the largest banks in the world, announced in a statement that it will provide its Metaverse On-Demand strategy portfolio to its private banking clients in Asia. With this move, the bank stated that they are seeking to take advantage of the opportunities provided by the metaverse, which is seen as the next form of the Internet.
HSBC’s Metaverse Fund
HSBC, one of the world’s largest banks, is launching an on-demand managed portfolio that invests in the digital world for private banking clients in Asia. The bank said in a statement that this strategy is aimed at exploiting the growth opportunities that arise worldwide as a result of the development of the metaverse ecosystem over the next decade. The statements made used the words “The Metaverse is expected to be the next state of the Internet.”
The metaverse can be defined as an immersive digital world created by a combination of virtual reality, augmented reality and the Internet. In March, HSBC announced that it had become the first global bank to enter The Sandbox metaverse by purchasing a site to interact with the sports, esports and gaming ecosystem. Citi said in a report last week that the total market for the metaverse economy could reach $13 trillion by 2030.
Details of the Fund
The bank stated that the Metaverse On-Demand strategy portfolio will be actively managed with a focus on five key areas. These five main areas will be infrastructure, computing, virtualization, experience/discovery, and human interface.
The Metaverse On Demand strategy portfolio will be exclusive to the wealthy and ultra-high professional and accredited HSBC investor clients in Asia. In addition, it was stated in the explanations on this occasion that the Metaverse On-Demand Strategy portfolio will be managed by HSBC Asset Management.
