The metaverse in the hands of bankers? HSBC explores this new Eldorado

Real money for virtual world – Gone are the days when bankers didn’t care about cryptocurrencies. Even the one where they fight and denigrate them seems about to be over. In any case, the large banking group HSBC is one of those who have already turned the page, to fully embrace the development of technologies provided by Bitcoin (BTC) and its ilk. HSBC therefore intends to invest more and more in metaverse.

The multinational banking HSBC Holdings has clearly shown its desire to make inroads into the metaverse on March 16, 2022, by purchasing a LAND (virtual plot of land) in the digital world of The sandbox (SAND).

But this first step was simply the harbinger of greater entry into force in this new field of application of crypto-assets that are “metaverse”. Indeed, as reported by Reuters in particular, HSBC has just launched a investment fund in metaversesfor its (very) wealthy clients of Singapore and hong kong.

This new investment vehicle, called “Metaverse Discretionary Strategy Portfolio” will be managed by the branch HSBC Asset Management of the banking group. This fund aims to offer wealthy investors (professional or accredited) the possibility ofindirect exposure to crypto projects such as The Sandbox or Decentraland (MANA).

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Metaverses, a nascent ecosystem already “full of opportunities”

In detail, the fund Metaverse Discretionary Strategy will focus on five development sectors of the metaverse ecosystem, namely: infrastructure, computing, virtualization, user experience, and interface.

“The metaverse ecosystem, while still in its infancy, is rapidly evolving (…) We see many exciting opportunities in this space [des métavers]and companies from different backgrounds and of different sizes are already flocking to this ecosystem”

Lina Lim, Head of Asia-Pacific Investment Funds for HSBC

The multinational banking HBSC has funds in the crypto metaverse! – Source: sandboxgame.medium.com

HSBC is not the only banking institution to make a marked foray into the digital worlds of metaverses. Indeed, from February 2022, the mega-bank JP Morgan has opened virtual offices there. And various other players, such as big brands and companies, want to appear in crypto metaverses – if only for advertising purposes.

When the biggest banks in the world focus on an investment, it is not useless to be interested in it too! To not miss the opportunity of a lifetime, Register without delay on the FTX reference crypto exchange platform and benefit from a lifetime discount on your trading fees (affiliate link, see conditions on official website).

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