Invesco, the US-based investment management company that has over $1.5 trillion in assets under management, has announced its first metaverse-themed fund, officially making its foray into the Web3 space.
The $30-million fund would invest in small, medium, and large companies across the metaverse value chain, the company said. The fund, which will focus on companies based in the US, Asia, and Europe, will be managed by Tony Roberts. The fund, which comes with a 0.75% management fee, will have the MSCI AC World Index as its primary benchmark.
Invesco’s fund will target seven verticals within the space. Prospective investments would include firms manufacturing next-generation computer systems, makers of AR/VR headsets, powerful networks that aid hyperconnectivity, immersive platform builders, and blockchain infrastructure providers.
However, Invesco is not the first investment major to announce a Web3-focused fund. Proshares, Fidelity, Global X, and First Trust have already announced funds that would invest in the immersive 3D segment. According to a report from Citi, potential revenues from the Metaverse space could be as high as $13 trillion by 2030, while McKinsey estimates a $5 trillion revenue opportunity by 2030.
FAQs
Who owns Metaverse?
The concept of the metaverse is vast and decentralized, and ownership is distributed across various entities. It is not owned by a single individual or organization. Instead, the metaverse is a collective virtual space consisting of interconnected digital environments, platforms, and assets, each owned by different companies, developers, and users.
How much has been invested in the metaverse?
The investment in the metaverse has been substantial, with billions of dollars flowing into various projects and companies within the space. Exact figures can vary, but as of now, it’s estimated that the total investment in the metaverse ecosystem is in the tens of billions. Major technology companies, venture capital firms, and individual investors have contributed to this significant financial backing.
Is Amazon using metaverse?
As of the latest available information, there is no explicit confirmation that Amazon is actively using the metaverse. However, the technology landscape is dynamic, and companies are continually exploring new avenues. Amazon has a history of innovation and involvement in various tech domains, but specific details about its engagement with the metaverse, if any, might not be publicly disclosed or widely known.
Is metaverse profitable?
The profitability of the metaverse is a dynamic and evolving aspect. As of the latest available information, the metaverse is seen as a rapidly growing sector with significant potential for profitability. Numerous companies, including tech giants like Meta (formerly Facebook), Amazon, and others, are investing in the metaverse, indicating a belief in its economic viability.
