Fidelity Launches New Metaverse Fund and Decentraland Experience

Fidelity Investments is expanding the way it seeks to reach younger investors with the launch of a unique experience within Decentraland, a virtual, browser-based 3-D space. Fidelity announced in a press release the opening of the “Fidelity Stack,” an immersive experience within the metaverse where visitors can learn about investing essentials. It coincides with the launch of the previously announced Fidelity Metaverse ETF (FMET) on Nasdaq on Thursday, April 21.

The Fidelity Stack occupies a space in Decentraland and consists of a lobby, dance floor, and rooftop sky garden in its multi-level configuration. It currently highlights the launch of FMET, a fund focused on the development, creation, distribution, and sales of services and products centered around the metaverse. Visitors can partake in the Invest Quest wherein they gather orbs throughout the building and learn ETF investing basics.

“Fidelity is constantly innovating as we re-imagine what it looks like to engage with customers as a trusted financial services company in the future,” said Kathryn Condon, head of marketing channels and emerging platforms at Fidelity, in the press release. “As Web 3.0 takes shape, Fidelity is excited to bring our expertise in financial education to this new virtual space.”

FMET is self-indexed and seeks to track the Fidelity Metaverse Index, which focuses on the companies that are creating and growing the metaverse, a forward-looking iteration of the internet that combines virtual reality, augmented worlds, and internet browsing. The index is constructed by the quantitative investing team at Fidelity and seeks to identify and track companies that offer exposure to the rapid growth of the metaverse.

The fund also will utilize securities lending to generate income, and it has an expense ratio of 0.39%, the lowest management fee for a fund focused within the metaverse.

“We’re part of a dynamic shift as young people take control of their finances in new ways,” said David Dintenfass, chief marketing officer and head of emerging customers at Fidelity, in the press release. “The next generation seeks out financial education in all the places they spend time, whether physical or virtual. We’re committed to serve customers in these decentralized communities as they transform and grow.”

The Decentraland space follows the creation of a Fidelity Reddit page as well as a Fidelity TikTok and is part of the firm’s attempt to appeal to younger consumers. The Fidelity Stack can be found here for desktops and laptops or here for all devices.

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https://www.etftrends.com/crytpo-channel/fidelity-launches-new-metaverse-fund-and-decentraland-experience/

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