Brokerage firm eToro introduced MetaverseLife, a new smart portfolio covering stocks and crypto-assets from within the growing metaverse industry, on Tuesday. The company stated that its goal is to offer a diverse range of investments made for long-term exposure.
Currently included in the portfolio are Meta Platforms, the new parent company behind Facebook, Roblox and other blockchain-based metaverse developments like Decentraland, The Sandbox and Enjin.
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There are also a few companies listed in this portfolio that aren’t exclusively blockchain-based but have still contributed to metaverse adoption and development. These include tech firms like Microsoft, Amazon and Nvidia.
Dani Brinker, head of investment portfolios at eToro, stated “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 that there was value in creating a central portfolio to lower the barrier to entry for investors. Brinker explained:
“By packaging up a selection of assets in a portfolio, we’re doing the heavy lifting and enabling our customers to gain exposure to the metaverse and spread the risk across a variety of assets.”
According to Bloomberg’s analytics, the metaverse could become an $800 billion market by 2024. The company said that it is putting a majority of its resources into developing assets that will be used to support investors’ interests in these projects. So far, these resources have gone towards listing The Sandbox (SAND) as an asset on the platform as well as plans for future land purchases.
Tomer Niv, the director of Global Crypto Solutions at eToro, said:
“eToro is a crypto pioneer with an established track record of embracing new technologies for the benefit of retail investors. We are excited by the opportunities offered by the metaverse.”Read on relating to Cointelegraph
