HSBC expands instruments for high-income investors
The largest British bank HSBC has organized a metaverse fund, which is designed for wealthy clients from Hong Kong and Singapore, as well as investors with a high level of income and accreditation. Before announcing the launch of the HSBC Metaverse, the financial holding company invested in virtual real estate as well as ConsenSys. The latter deals with blockchain technology.
The new project’s strategy is expected to focus on five sectors of the metaverses: infrastructure, interface, computing power, research, and virtualization. According to Lina Lim, head of investment funds at HSBC Asia-Pacific, the meta segment is growing strongly. Despite the fact that its ecosystem is still in its infancy and at an early stage, things are changing rapidly. The Metaverse offers tremendous opportunities, it is a great space into which more and more companies from different areas of business are pouring in. They actively interact with each other, providing unique offers for users.
The fund from HSBC is designed to provide professional investors with new tools for their activities. It will be managed through the Asset Management system developed by the bank. So far, there is no official information about how many years the fund plans to function. Representatives of the holding argue that the project will fully contribute to the most convenient use of those opportunities that will present the metaverse during the 10 years.
It should be noted that the metaverse market is attracting more and more investors. Last year, the company PricewaterhouseCoopers conducted an analysis of this market. According to its results, the value of the metaverse segment will reach the $1.5 trillion mark by 2030. By comparison, this market was valued at $45.5 billion in 2019.
However, after Citigroup released its data, the consulting firm’s forecast was pessimistic. The investment bank believes that in 10 years, the metaverse will reach a figure of $8-13 trillion, well above PricewaterhouseCoopers’ estimates.
HSBC Bank believes that Metaverse has a great future, and we should already actively invest in this sphere. Despite this disposition to the virtual world, crypto-fits do not attract the holding. Last year, the head of the bank stated that HSBC has no plans to invest in these digital assets. Also, the corporation will not be developing its own cryptocurrency trading platform anytime soon, as other companies do. However, this view does not prevent HSBC from funding companies that are developing blockchain technology, as it did last year with ConsenSys. The latter company received a $200 million investment from HSBC.