Metaverse: New ETF released on Solactive index

Many big techs start to see this revolutionary concept as their next direction of development. Meta’s new ‘Metaverse’ depicts the latest development in that segment. Through the inclusion of virtual reality content in real life, so called augmented reality, both the digital and non-digital world increasingly coalesce, the firm says.

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Solactive now releases its Solactive Metaverse Index

Solactive has released its Solactive Metaverse Index. It includes publicly traded companies that could benefit from the adoption and use of technologies that are expected to grow and support the functioning of the metaverse, as part of its first collaboration with major ETF issuer Fubon Asset Management.

Fubon Asset Management has filed an exchange-traded fund (ETF) that tracks the index on the Taiwan Stock Exchange. They rose TWD5.3 billion in the first public offering phase.

According to Solactive, recent analyses project the metaverse possibility to reach at least USD800 billion in market capitalization by 2024. Owing to rising demand for virtual and augmented reality services.

The Fubon Metaverse ETF was to help investors profit from the tremendous growth potential of companies involved in Metaverse. Including platforms, devices, interchange standards, and data processing.

The Solactive Metaverse Index includes companies headquartered in countries that are part of the developed markets

The Solactive Metaverse Index is using ARTIS, Solactive’s proprietary big data and natural language processing (NLP) algorithm. Which screens publically available information such as financial news, business profiles, and company publications.

Advanced algorithms serve to scan large amounts of public information in order to assess firms’ exposure to specific themes or topics. ARTIS assigns a score to each firm that represents its exposure to the index strategy.

This group of companies is then scrutinized to ensure that they are relevant to the index’s subject based on their business operations. At this point, companies who do not have relevant business exposure to the theme are eliminated from the selection process.

“I still remember the absorbing sensation of two grey blocks passing a large pixel to one other many years ago, when digital worlds were coming along, and I am glad to see how far we have come,” says Timo Pfeiffer, Chief Markets Officer at Solactive.

Image credits: Shutterstock, CC images, Midjourney, Unsplash.

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