Fidelity Investments, a large financial services company with $11.3 trillion in assets under management, has entered the Metaverse with the opening of an eight-story learning center and the launch of a Metaverse Exchange Traded Fund (ETF). The Fidelity Stack features “a multi-story design with a lobby, a dance floor, and a rooftop sky garden that users can explore on foot or even via teleport.”
Loyalty enters the Metaverse
Fidelity Investments on Thursday announced the grand opening of “The Fidelity Stack,” which the brokerage firm described as its “first immersive Metaverse experience aimed at providing a new way to learn the fundamentals of investing.” Fidelity is one of the largest financial services companies; It currently has $11.3 trillion in assets under management.
The Fidelity Stack is an eight-story building in the Metaverse where visitors can learn about different investment opportunities. An entire floor is dedicated to providing information about Fidelity Metaverse ETF (FMET), the company’s new exchange-traded fund focused on Metaverse investing. Loyalty Declared:
Built in Decentraland, the Fidelity Stack features a multi-level design with a lobby, a dance floor, and a rooftop sky garden that users can explore on foot or even via teleport.
“The Invest Quest at The Fidelity Stack challenges users to traverse the building and learn the basics of ETF investing while collecting “orbs” along the way,” the announcement continues.
Decentraland is an Ethereum-based metaverse that opened to the public in January 2020. In February, global investment bank JPMorgan chose Decentraland as the Metaverse platform to launch its lounge.
Kathryn Condon, Head of Marketing Channels and Emerging Platforms at Fidelity, commented:
The way we interact with each other and our money is changing rapidly, whether it’s with the rise of blockchain technology or the development of a new digital universe. Our foray into the Metaverse is designed with this in mind.
Last month, Citi predicted the Metaverse could be a $13 trillion opportunity with five billion users by 2030. Global investment banks Goldman Sachs and Morgan Stanley believe the Metaverse is an $8 trillion opportunity.
What do you think of Fidelity entering the Metaverse? Let us know in the comment section below.
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