Australia's BetaShares Launches Metaverse-Focused ETF on the ASX
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Australia'sBetaShares Launches Metaverse-Focused ETF on the ASX
BetaShares has launched Australia's first Metaverse-focusedexchange-traded fund (ETF) on the ASX exchange. Dubbed the BetaShares MetaverseETF (MTAV), the exchange-traded fund will provide exposure to a portfolio ofglobal firms involved in Metaverse-related operations, as of an August 3, 2022report.
BetaShares, Australia's leading fund manager and provider ofa vast array of exchange-traded funds (ETFs),The country's firstmetaverse-focused ETF has been launched on the Australian Securities Exchange(ASX). According to a company statement, the BetaShares Metaverse ETF (ASX:MATV) isdesigned to provide investors in the sector with dedicated exposure to a strongportfolio of top companies that are actively building, developing and operatingthe best are ahead Metaverse movement.
Specifically, the firm has made it clear that MTAV will trackthe Bloomberg Metaverse Select Index, which is dedicated to tracking theperformance of companies that expect the Metaverse economy to generate massiverevenues from consumer and enterprise services. hopefully. Currently, theBetaShares Metaverse ETF offers investors exposure to a portfolio of 32 suchcompanies, including Roblox.
NVIDIA, and Meta Platform, which is the parent company ofFacebook, Instagram, and WhatsApp. In simple words, the metaverse refers to avirtual world that is powered by innovative technologies such as blockchain,the solid foundation behind bitcoin (BTC) and other digital currencies andnon-fungible tokens (NFTs). The Metaverse economy sits at theintersection of artificial intelligence, virtual and augmented reality,play-to-earn gaming, and more.
In particular, the current slowdown in global financialmarkets and the economy in general, has hit the crypto and NFT ecosystems quitehard, with a large number of 'big names' occupying the front lines of digitalinnovation first. Used to be, no longer exist.
Despite the significant decline, Bloomberg Intelligenceforecasts the metaverse economy to generate up to $800 billion in annualrevenue by the year 2024, and it appears that the industry is on course totraverse that trajectory, if brands and even more so. That the current influxof nations. Metaverse, anything has to go.