HSBC Launches Metaverse Portfolio for Wealthy Asian Clients
(6 April 2022 – Asia) HSBC Holdings has launched a fund focused on investment opportunities in the metaverse for wealthy clients in Singapore and Hong Kong.
The portfolio is actively managed and focuses on investing in companies within the metaverse ecosystem, with five key segments namely Infrastructure, Computing, Virtualisation, Experience and Discovery, and Human Interface.
“The metaverse ecosystem, while still at its early stage, is rapidly evolving,” said HSBC Asia Pacific regional head of discretionary and funds for investments and wealth solutions Lina Lim. “We see many exciting opportunities in this space as companies of different backgrounds and sizes are flocking into the ecosystem.”
Last month, HSBC said it was buying a plot of virtual real estate in an online gaming space, becoming the second global bank to invest in a popular metaverse platform after JP Morgan set up a presence in blockchain-based Decentraland.
Latest research from East & Partners reveals that seven out of ten top 100 revenue ranked corporates across six countries including Australia, China, Hong Kong, Singapore, UK and US were able to identify specific applications of the Metaverse and explain what it means to them as a concept, although only 27 percent could identify a way in which it coul dhelp their business. http://eastandpartners.com/publications/banking-news/what-does-the-metaverse-mean-to-corporates
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