Investment Management Giant Invesco Launches Metaverse Fund – Metaverse Bitcoin News
Investment management giant Invesco has launched a metaverse fund that will invest in a myriad of metaverse technology-focused startups, a Citywire report detailed on Monday. “We will seek to capitalize on these opportunities through a very selective and valuation-conscious approach,” said Tony Roberts, fund manager at Invesco.
Invesco Unveils Metaverse Fund – Investment Manager Plans to Invest in Small-, Mid-, and Large-Cap Startups
On Monday, Citywire’s Chris Sloley released a report explaining that the fund manager Invesco (NYSE: IVZ) launched a metaverse fund. According to reportInvesco’s metaverse fund will invest in small, mid and large cap stocks worldwide that are dedicated to metaverse technologies such as virtual worlds, non-fungible tokens (NFT), augmented reality, play-to-earn (P2E) games ) and artificial intelligence (AI).
Sloley’s report notes that the fund will be managed by Invesco fund manager Tony Roberts and assistant fund manager James McDermottroe. Roberts detailed that there are very optimistic predictions regarding the future growth of the metaverse. “It has been estimated that, by 2030, virtual and augmented reality could provide a £1.4 trillion boost to the global economy,” Roberts said on Monday. As of July 31, Invesco disclosed it had $1.44 trillion in assets under management (AUM).
The Invesco metaverse fund news follows a host of companies and organizations that have ventured into the metaverse this year. For example, a report recently detailed that South Korean electronics giant Samsung has signed a memorandum of understanding (MOU) with half a dozen companies to launch the “Galaxy NFT [non-fungible token] ecosystem “. According to the report published on Monday, the metaverse fund Invesco aims to capitalize on technologies opening the door to virtual worlds and interconnectivity.
“As the applications of the metaverse to entertainment become better understood, the interconnectivity it enables will likely have a transformative impact on sectors as diverse as healthcare, logistics, education and sports,” said remark Roberts when discussing the Invesco metaverse fund. “We will seek to capitalize on these opportunities through a very selective and valuation-conscious approach,” added fund manager Invesco.
What do you think of investment manager Invesco launching a metaverse fund? Let us know what you think about this topic in the comments section below.
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