Major investment company Invesco, which manages trillions of dollars in assets, has launched a fund for start-ups creating content for the metaverse.
The fund will invest in small, mid-cap and large-cap companies around the world that focus on metaverse technologies: virtual worlds, non-fungible tokens (NFTs), augmented reality, Play-to-Earn (P2E), GameFi and artificial intelligence (AI). Fund manager Tony Roberts noted that the metaverse is a very promising industry.
“By 2030, virtual and augmented reality could boost the global economy by £1.4 trillion (about $1.7 trillion),” Roberts said.
As of July 31, Invesco manages $1.44 trillion in assets. Roberts said that by investing in the metaverse, the fund will develop social industries.
“While the applications of the entertainment metaverse are becoming increasingly understood, the interconnectedness they provide is likely to have a transformative impact on industries such as healthcare, logistics, education and sports,” said Roberts.
Last month, the Chinese city of Shanghai announced that it was allocating $1.5 billion for the development of the metaverse. Earlier, South Korean authorities said they were going to spend $117.1 million to invest in the metaverse.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
