Investment in the metaverse and metaverse technology has grown significantly over the past year, with tech giants like Meta and Microsoft leading the charge. According to ProShares Advisors Global Investment Strategist Simeon Hyman, metaverse presents an investment opportunity for individuals and institutions alike.
“Today you have an immersive but not quite interconnected metaverse,” Hyman told Yahoo Finance Live. “There’s already a half [a trillion] dollars being made in the metaverse. That’s likely to double even in the context of just the near term [with] social media, interactive gaming, and live music, before we even get to the interconnected piece on the other side.”
Hyman joined Yahoo Finance Live to discuss the outlook for stocks as the Fed raises interest rates and investing in the metaverse. ProShares recently launched its metaverse ETF (VERS) designed to give investment access to companies shaping the digital frontier.
The VERS (pronounced “verse”) ETF tracks Solactive’s Metaverse Theme Index, which includes 40 companies across a broad range of industries — from data processors and software to social media and gaming — and utilizes algorithms to determine metaverse investment opportunity as it evolves. A few of the companies tracked include Apple, NVIDIA , Roblox, Microsoft, Meta, Snap Inc and Unity. If you’re looking for a good ETF for Gaming Stocks make sure you check our other article about it.
“It’s really interesting, when you look at the basket of companies,” Hyman said. “It’s almost like a timeline of innovation over the years, because companies like Microsoft are there, but so is NVIDIA, and of course Meta, but more recent companies like Roblox and even more recently than that, a company like Unity. So this is an evolving opportunity.”
ProShares joins the likes of Roundhill Investments and their Roundhill Ball Metaverse ETF (METV) in allowing investors to participate in the financial performance of companies making the push into metaverse.