Betashares has launched Australia’s first metaverse-focused exchange-traded fund (ETF) on the ASX exchange. Dubbed the Betashares Metaverse ETF (MTAV), the exchange-traded fund will provide exposure to a portfolio of global firms involved in metaverse-related operations, according to reports on August 3, 2022.

BetaShares, Australia’s leading fund manager and provider of a vast array of exchange-traded funds (ETFs), has launched the country’s first metaverse-focused ETF on the Australian Securities Exchange (ASX). 

According to a statement by the company, the BetaShares Metaverse ETF (ASX: MATV) is designed to provide investors in the region with dedicated exposure to a robust portfolio of the top companies that are actively building, developing, and operating at the forefront of the metaverse movement.

Specifically, the firm has made it clear that MTAV will track the Bloomberg Metaverse Select Index, which is dedicated to tracking the performance of companies that are expected to generate massive revenue from consumer and enterprise services from the metaverse economy. 

Presently, the BetaShares Metaverse ETF offers investors exposure to a portfolio of 32 such companies, including Roblox, NVIDIA, and Meta Platforms, which is the parent company of Facebook, Instagram, and WhatsApp.

Commenting on the launch of MTAV, BetaShares CEO, Alex Vynokur said:

As the range of technologies underpinning the metaverse evolves and user growth continues, this secular trend is expected to revolutionize the way we engage with sport, live music, and other ways of staying connected.

Vynokur added that though the metaverse industry is still in the infant stage of its growth, there’s no doubt it has the potential to reach great heights in the near future. 

For the uninitiated, in simple terms, the metaverse refers to a virtual world powered by innovative technologies like blockchain, the solid foundation behind bitcoin (BTC) and other digital currencies and non-fungible tokens (NFTs). The metaverse economy sits at the intersection of artificial intelligence, virtual and augmented reality, play-to-earn gaming, and more.

Notably, the current downturn in the global financial markets and economy, in general, has hit the crypto and NFT ecosystems quite hard, with a good number of ‘big names’ that previously occupied the frontline of digital innovation no longer in existence. 

According to data released by Balthazar, a platform that allows users to earn a passive income by playing NFT games, renting, lending, or purchasing digital collectibles, the total sales volume of leading NFT marketplaces, including Magic Eden, OpenSea, LooksRare, and Solanart stood at a mere $676 million in July 2022, representing a decrease of more than $6 billion as compared to roughly $7 billion generated in January.

Despite the significant decline, Bloomberg Intelligence has forecasted the metaverse economy to generate up to $800 billion in annual revenue by the year 2024 and it appears the industry is on course to surpass that trajectory, if the current influx of brands and even nations, into the metaverse, is anything to go by.

As reported by crypto.news earlier in July 2022, authorities in Dubai have formulated a Metaverse Strategy that will enable the city to occupy the frontline of metaverse innovation and generate up to $4 billion annually from the space by 2027.

American Crypto Association Exclusives!

Bookmark the site and sign up for relevant alerts, trading tips, masternode updates and important news hosted within our exclusive newsletter. Valued at $3,588, we are offering this service free for one year!

Get onboard now!

Exclusive Newsletter!

Sign up for exclusive trading tips, masternode updates and important news hosted within our newsletter!
!
!
Terms and Conditions checkbox is required.
Something went wrong. Please check your entries and try again.
Translate »
Scroll to Top