The 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 on Monday. “We will seek to capitalise on these opportunities through a highly selective, valuation-conscious approach,” Tony Roberts, Invesco’s fund manager, explained.
Invesco Reveals Metaverse Fund — Investment Manager Plans to Invest in Small, Medium, Large-Cap Startups
On Monday, Citywire’s Chris Sloley published a report explaining that the fund manager Invesco (NYSE: IVZ) launched a metaverse fund. According to the report, the Invesco metaverse fund will invest in small, medium, and large-cap companies worldwide that are dedicated to metaverse technologies like virtual worlds, non-fungible tokens (NFTs), augmented reality, play-to-earn (P2E) gaming, and artificial intelligence (AI).
Sloley’s report notes that the fund will be managed by Invesco’s fund manager Tony Roberts and the 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 deliver 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 slew of companies and organizations getting into the metaverse this year. For instance, a report recently detailed that the South Korean electronics giant Samsung signed a memorandum of understanding (MOU) with a half 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 opening the door to virtual worlds and interconnectivity.
“While the metaverse’s applications to entertainment are increasingly well-understood, the interconnectivity that it enables will likely have a transformative impact across industries as diverse as healthcare, logistics, education, and sport,” Roberts remarked while discussing the Invesco metaverse fund. “We will seek to capitalise on these opportunities through a highly selective, valuation-conscious approach,” the Invesco fund manager added.
Tags in this story
ai, Augmented Reality, AUM, Blockchain, Crypto, crypto technology, fund manager, Invesco, investment funds, Investments, James McDermottroe, Metaverse, Metaverse Fund, Metaverse Growth, metaverse tech, NFTs, P2E Gaming, Samsung, Startups, Tony Roberts, Virtual Reality
What do you think about the investment manager Invesco starting a metaverse fund? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at - News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for - News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: JHVEPhoto / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. - does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.