According to Reuters, SBC has developed a fund that provides metaverse investing options for its private banking clients in Hong Kong and Singapore.
The Metaverse Market Discretionary Strategy Portfolio fund is managed by the British lender's asset management division.
It will make investments in firms associated with the metaverse ecosystem, with an emphasis on virtualisation, infrastructure, computing, experience and discovery, and interface.
The discretionary portfolio is intended for high-net-worth (HNW) and ultra-high-net-worth (UHNW) professional investors, as well as accredited investor customers, in Hong Kong and Singapore.
"The metaverse ecosystem, albeit still in its early stages," said Lina Lim, HSBC Asset Management Asia Pacific regional head of discretionary and funds for investments and wealth solutions.
"We see many intriguing potential in this market as firms of all sizes and backgrounds come into the ecosystem."
The metaverse is a network of virtual settings in which users may play, work, and socialize via a variety of devices.
HSBC made its first excursion into the metaverse last month when it purchased a virtual plot dedicated to esports, sports, and gaming fans.
Metaverse Market Overview
The metaverse market size was valued at USD 22.79 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 39.8% during 2022-2030. A metaverse is a virtual world where users share experiences and interact in real-time within simulated scenarios. It is still largely conceptual but could transform how people work, shop, communicate, and consume content. Although it is in the early stages of development, it has the potential to be the next mega-theme in digital media.
Metaverse Market Size, 2022-2030 ($Bn)
View Sample Report for Additional Insights on the Metaverse Market Forecast, Download a Free Sample
Metaverse technology encompasses nine major critical: Networking equipment and cloud infrastructure, Data governance and security, Blockchain and cryptocurrencies/NFTs, AI/ML, AR and VR, AdTech (Internet advertising), Gaming, Enterprise applications, and Payments Platforms.
The hype around the metaverse market prediction is largely focused on consumer use cases. Gaming and social media companies are at the vanguard, but enterprises will lead the charge in the next five years. This shift will be driven by the future of work and digital transformation initiatives ongoing across sectors ranging from retail to healthcare and financial services. Big Tech is championing the metaverse environment, with Microsoft and Meta promoting it as the ideal environment to support hybrid working.
According to GlobalData estimates, the metaverse industry will grow from USD 22.79 billion in 2021 to USD 996.42 billion in 2030 at a CAGR of 39.8% from 2022 to 2030. It is the next big theme in digital media, and VR and AR are crucial technologies driving its development. These two technologies will make the metaverse immersive and allow users to interact with virtual objects, people, and environments.
The metaverse market research report provides an executive-level overview of the current market worldwide, with detailed forecasts of key indicators up to 2030. The annual report provides a detailed analysis of the near-term opportunities, competitive dynamics, and evolution of demand by verticals and component stack across key regional and country markets. The study also captures a detailed overview of key dynamics including technology, and regulatory trends, among others with their current as well as the expected impact on the overall demand.
