| The metaverse is still a relatively new concept to most individuals—but major corporations do understand the growth magnitude of the space and are taking a rather large interest.
Yesterday, Epic Games, Inc.—creator of the immensely popular Fortnite video game—announced that it has raised $2 billion in funding—and plans to use the money to help build the metaverse.
The raise involved Sony Group Corporation and the family-owned KIRKBI A/S, the holding company behind The LEGO Group; which contributed $1 billion apiece. Following this investment, Epic Games had a valuation of $31.5 billion.
There are several ways to invest in the metaverse, which I recently outlined in an article. And now, investors will soon be able to invest in an exchange-traded fund (ETF) that offers exposure to the metaverse.
While the U.S. Securities and Exchange Commission drags its heels on approving a bitcoin spot ETF, Fidelity Investments Inc., the world’s fourth-largest asset manager, announced plans to offer a Fidelity Metaverse fund later this month.
Meta Platforms, Inc. is starting to showcase some of the reasons behind its name change from Facebook. The firm's social VR platform, Horizon Worlds, which was launched in December, is testing new functionality, giving creators the ability to sell digital goods and services.
While 74% of adults have either joined the metaverse or are thinking about doing so, only a small fraction are currently involved, according to Statista—a tiny glimpse of the growth ahead for this space. The overall market outlook may be gloomy, but the potential for upside in the metaverse looks to be a bright spot on the horizon.
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