HSBC, which has just started with “virtual real estate”, launched a meta-universe fund


HSBC, which entered the “universe real Estate” last month, has launched a university-themed discretionary investment fund for its private banking clients in Hong Kong and Singapore, media reported on Wednesday.In an announcement on Wednesday, HSBC said the fund would focus on five areas of the metasurverse ecosystem — infrastructure, computing power, virtualization, experiential exploration and interactive interfaces — and was set up to capture global growth opportunities over the next decade.’The metasverse is seen by many as the next stage in the evolution of the Internet,’ said Nicholas Dowell, portfolio manager at HSBC. ‘We expect the technology to have an impact on our daily lives similar to what we experienced in the early 1990s.’For today’s capital markets, metasexes are still about integrating digital technology with everyday life.Examples include video conferencing, games like Minecraft or Lobos, cryptocurrencies, email, virtual reality, social media or live streaming.But after the initial buzz, most metaverse concepts are in the doldrums.Roblox, the “first stock in the meta-universe”, for example, saw its share price triple on its DEBUT a year ago, but has fallen as much as 70 per cent in the past six months due to operating results and shifting market preferences.In fact, JUST last month HSBC officially entered the metasomes, not only as a financial services provider to blockchain gaming company Sandbox, but also by buying a “metasomes property” in the Sandbox.Jp Morgan chase, the world’s largest bank, opened a virtual VIP room on Decentraland in February under the name Onyx, the company’s blockchain arm.It’s worth noting that the move into the metasverse does not signal a shift in HSBC group’s attitude toward cryptocurrencies.Last year, HSBC CEO Noel Quinn made it clear that the bank had no plans to open a cryptocurrency trading platform or offer it to clients as an investment vehicle.

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