Fidelity Investments, a prominent financial service company with over $11.3 trillion worth of assets under management, has joined the Metaverse. The company built an eight-story education center and introduced a metaverse ETF (exchange-traded fund). The Fidelity Stack has a “design that features a dance floor, lobby and sky garden at the rooftop for visitors to navigate on foot or via teleportation.”
Fidelity Makes Its Way Into The Metaverse
A new immersive virtual world experience called “The Fidelity Stack” was launched on Thursday by Fidelity Investments, which is characterized as the firm’s entrance into metaverse investment. The novel feature is targeted at delivering a new approach to learning investment principles. Fidelity Investments is among the world’s biggest financial services companies, with assets under management totaling $11.3 trillion at the time of writing.
This eight-story structure in the virtual world is home to the Fidelity Stack, where tourists may learn more about various types of investment. The Fidelity Metaverse ETF (FMET), the firm’s new ETF that focuses on Metaverse investing, is the subject of an entire floor devoted to delivering details about it. Fidelity n:
The Fidelity Stack
The Fidelity Stack, which was constructed in Decentraland, has a multi-level architecture that includes a dance floor, lobby, and a sky garden on the rooftop sky garden that customers may tour on foot or they can teleport. Participants are encouraged to explore the facility while studying the fundamentals of ETF investment and collecting ‘orbs’ as they go around the Invest Expedition at The Fidelity Stack.
Decentraland is a metaverse built on the Ethereum blockchain that first opened its doors to the world in 2020. Earlier this year, multinational investment firm JPMorgan picked Decentraland Metaverse as the virtual world on which to launch a new lounge.
Kathryn Condon, director of marketing platforms at Fidelity Investments, shared her thoughts on the matter:
“With the growth of blockchain tech and the establishment of a novel digital world, or mode of interaction with one another and means of exchange is fast changing. This is something we have kept in mind as we embark on our journey into the virtual world.”
Citi forecasted in March that the virtual world may be worth over $13 trillion, with more than five billion active users by 2030. The Metaverse, according to global financial institutions Morgan Stanley and Goldman Sachs, represents an $8 trillion investment potential. More companies continue to invest in the Metaverse. Meanwhile, regulations on how activities will be conducted have not been released. However, no single company or country is solely in charge of the Metaverse.