metaverse

Fidelity is the Latest Company to Get Into the Metaverse

By Allen Taylor | Cryptocracy | 31 Jan 2022


Fidelity has filed an application with the SEC for a metaverse-related exchange-traded fund. The fund will focus on companies that develop, manufacture, distribute, and sell products and services supporting the metaverse—whatever that actually ends up being.

metaverse

Ever since Facebook rebranded as Meta last October, companies have been coming out of the woodwork to chase the metaverse dream. While it’s unclear exactly what the metaverse will be, there’s plenty of evidence it will utilize nascent new technologies such as augmented reality, virtual reality, artificial intelligence, cryptocurrencies (NFTs specifically), and cryptosocial media. To what extent each of these technologies will play a part is anyone’s guess.

Some companies to look out for in the new metaverse might include:

  • Active Theory - Active theory is a service organization that builds metaverses and AR/VR environments for other brands.

  • Dapper Labs - Dapper Labs is best known as the creator of CrypoKitties, the Ethereum-based NFTs that sparked the NFT craze. They have since gone on to create NFTs for other brands including the NBA.

  • Decentraland - Decentraland is a blockchain-based virtual world where players buy land and live vicariously through avatars they create within the game. Players earn the native cryptocurrency MANA during play.

  • NVIDIA - No mention of the metaverse would be complete without the companies that create the underlying technology. NVIDIA is well known as a computer chip manufacturer and maker of gaming GPUs. They’ve gone one step further and established the Omniverse platform for real-time 3D game developers.

These companies are the obvious ones, but what about companies you wouldn’t think of as metaverse companies? From Wendy’s to Nike, retail companies are also exploring how to sell their retail goods through the metaverse.

Apple and Microsoft have both expressed an interest in the metaverse. In fact, Apple has filed for a metaverse patent.

Epic Games, creator of the popular Fortnite video game, has eyes on the metaverse. Niantic calls it a dystopian nightmare, but they’re still planning to get in on the metaverse. Roblox is bringing the metaverse to children’s games.

As you can see, while the metaverse currently has a vague definition—if one at all—there are several major companies in different sectors planning their entry. Fidelity, which offers financial planning products for millions, is just one company with eyes on the ever-developing metaverse.

Help me launch my forthcoming book Cryptosocial: How Cryptocurrencies Are Changing Social Media by Business Expert Press. The book is due to launch in March 2022.

First published at Cryptocracy. Not financial advice.

Image from Unsplash.

 

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Allen Taylor
Allen Taylor

Writer, editor, publisher. Content strategist for fintech, blockchain, and crypto firms.


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