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Investment management giant Invesco has launched a metaverse fund that will invest in a myriad of startups focused on metaverse technology, a Citywire report detailed Monday. “We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach,” explained Tony Roberts, Invesco’s fund manager.
On Monday, Citywire’s Chris Sloley published a report explaining that fund manager Invesco (NYSE: IVZ ) launched a metaverse fund. According to the report, the Invesco metaverse fund will invest in small, medium and large companies worldwide that are dedicated to metaverse technologies such as virtual worlds, non-fungible tokens (NFTs), 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 deputy fund manager James McDermottroe. Roberts detailed that there are some very optimistic predictions surrounding the metaverse’s future growth. “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 that it had $1.44 trillion in assets under management (AUM).
The Invesco metaverse fund news follows a number of companies and organizations that have entered the metaverse this year. For example, a report recently described South Korean electronics giant Samsung signing a memorandum of understanding (MOU) with half a dozen firms to launch the “Galaxy NFT [non-fungible token] ecosystem.” According to the report published on Monday, the Invesco metaverse fund aims to capitalize on the technologies that open the door to virtual worlds and connectivity.
“While the metaverse’s applications to entertainment are increasingly well understood, the interconnection it enables is likely to have a transformative impact across industries as diverse as healthcare, logistics, education and sports,” Roberts said while discussing the Invesco metaverse fund. “We will seek to capitalize on these opportunities through a highly selective, valuation-conscious approach,” the Invesco fund manager added.
What do you think about investment manager Invesco starting a metaverse fund? Let us know what you think about this topic in the comments section below.
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