HSBC Holdings has launched a fund to capture investment opportunities in the metaverse for its wealthy clients in Hong Kong and Singapore, Reuters has reported.
HSBC said its discretionary portfolio was designed for its high net worth and ultra-high net worth professional investors and accredited investor clients in Hong Kong and Singapore.
It said in a statement its Metaverse Discretionary Strategy portfolio, managed by its asset management arm, will focus on investing within the metaverse ecosystem across five segments - infrastructure, computing, virtualisation, experience and discovery, and interface.
"The metaverse ecosystem, while still at its early stage, is rapidly evolving," said Lina Lim, regional head of discretionary and funds for investments and wealth solutions, Asia Pacific, at HSBC. "We see many exciting opportunities in this space as companies of different backgrounds and sizes are flocking into the ecosystem."
Last month, HSBC said it was buying a plot of virtual real estate in an online gaming space, becoming the second global bank to invest in a popular metaverse platform after JPMorgan set up a presence in blockchain-based Decentraland.