Today Fidelity announced it has set up The Fidelity Stack in blockchain-based metaverse Decentraland. The immersive experience targets a younger audience to gamify learning about ETF investing. Last week Fidelity launched an ETF focused on metaverse investing.
Users can traverse the lobby, dance floor and rooftop garden, gathering ‘orbs’ while learning about ETFs.
“As Web 3.0 takes shape, Fidelity is excited to bring our expertise in financial education to this new virtual space,” said Kathryn Condon, head of marketing channels and emerging platforms at Fidelity.
“The way we engage with each other and with our money is rapidly changing, whether that’s through the rise of blockchain technology or development of a new digital universe. Our foray into the metaverse is designed with this in mind.”
Fidelity was one of the very first institutions to engage in cryptocurrency during the 2017/18 boom setting up its Fidelity Digital Assets arm.
Several other institutions are also embracing the metaverse and setting up shop. Like Fidelity, HSBC bought a plot of land in The Sandbox to support its sponsorship initiatives and later followed that up with an Asian metaverse investment fund. Siam Commercial Bank subsidiary SCB 10X also opted for The Sandbox, whereas JP Morgan chose Decentraland.