Betahares launched Australia's first meta -verse ETF on ASX

Betahares launched Australia's first meta -verse ETF on ASX

The Australian provider of stock market-traded funds (ETFS) Betashares announced on Wednesday that he introduced the country's first meta-verse marketplace product at the Australian Securities Exchange (ASX).

The listing of the betahares metaverse ETF (MTAV) offers access to a portfolio of global companies that are involved in the construction, development and operation of the meta -verses, said Betashares in an explanation.

betahares joins other providers such as proshares and global X, because it tries to benefit from the potential growth of virtual worlds with an estimate $ 800 billion in annual sales until 2024.

It comes when Australia was already noted in May in May in May. In comparison, the United States has not yet listed its own Spot-Bitcoin ETF to the tremendous market participants. The United States has listed several futures-based Bitcoin ETFs.

metavers or digital worlds relate to the intersection of virtual reality, gaming, artificial intelligence, advertising as well as digital currencies and tokens.

"Since the palette of technologies that underpin meta-verse and continues the user growth, this secular trend is expected to revolutionize the way we are in contact with sports, live music and other ways," said Alex Vynokur, CEO of Betashares, in the explanation.

"Although the metaverse is still in the early stages of evolution, it has the potential to become one of the greatest secular growth trends in the coming decades."

bullish in a bear market

Despite the forecast income for meta -verse, the market conditions continue to be the battered sector, which also does not include fungal tokens (NFTS).

According to data from the NFT gaming platform Balthazar, the four of the leading NFT marketplaces OpenSEA, Magic Eden, Looksrare and Solanart analyzed in the industry, the total turnover volume was $ 676 million in July-over $ 6 billion less than in January, which recorded around $ 7 billion.

mtAV will try to reproduce the Bloomberg Metaverse Select Index by offering an engagement in a portfolio of 32 companies. These companies include companies such as Roblox, Nvidia and Meta Platforms, the focus of which is to generate an "significant amount of their income" from meta-severse-related activities.

META, formerly Facebook, reported a loss of $ 2.8 billion in the second quarter via Reality Labs, the meta-verse division of the social media giant. Nevertheless, CEO Mark Zuckerberg remains optimistic about the long -term prospects for meta -verse games and efforts.

Despite the headwind on the market, Betashares said that it remains optimistic about the promise of the meta verse that these brands that try to stay in connection with their customers "have to invest considerably considerable resources in their" meta-severse strategy ".

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The contribution Betashares starts Australia's first meta-verse ETF on ASX is not a financial advice.