Brokerage firm eToro filed on January 11 MetaverseLife, a new smart portfolio encompassing stocks and crypto assets from the growing metaverse sector. The company stated that it aims to offer a diverse range of investments made for long-term exposure.
Currently included in the portfolio Meta Platforms, the new parent company behind Facebook, Roblox, and other blockchain-based metaverse developments like Decentraland, Sandbox, and Enjin.
There are also some companies included in this portfolio that are not exclusively blockchain-based, but have contributed to the adoption and development of metaverses. These include tech companies like Microsoft, Amazon, and Nvidia.
Dani Brinker, head of investment portfolios at eToro, stated that “When evaluating the investment opportunity of emerging industries, diversification is key, as not everyone involved will be a winner.” As the metaverse industry continues to grow, he suggested there was value in creating a core portfolio to lower the barrier to entry for investors. Brinker explained:
“By bundling a selection of assets into a portfolio, we are doing the heavy lifting and allowing our clients to gain exposure to the metaverse and spread risk across a variety of assets.”
According to Bloomberg analysis, the metaverse could turn into a $ 800,000 market in 2024. The company said it is dedicating most of its resources to developing assets that will be used to support investors’ interests in these projects. Until now, these resources have been devoted to the inclusion of Sandbox (SAND) as an asset on the platform, as well as plans to purchase land in the future.
Tomer Niv, Director of Global Crypto Solutions at eToro, said:
“eToro is a cryptocurrency pioneer with an established history of adopting new technologies to the benefit of retail investors. We are excited about the opportunities the metaverse offers.”
Keep reading: