Matthew Ball, venture capitalist and writer, has started a new metaverse focused index in collaboration with investment firm Multicoin Capital and Bitwise. The metaverse index will include up to 40 crypto assets and will be offered on Bitwise.
Metaverse is the virtual iteration of an intricate set of real-world structures powered by the amalgamation of VR, AI, and AR. Metaverse and gaming are apparently among the hottest sectors that have piqued investor interest since Facebook rebranded itself to Meta Platforms.
Multiple fund houses have developed index funds on metaverse and gaming themes. This proposition is somewhat different because of the inclusion of one of the leading voices in the crypto community, Matthew Ball.
“We developed the Ball Multicoin Bitwise Metaverse Index Fund because, prior to today, there was no easy, expert, and methodologically diversified way for investors to have broad-based exposure to bona fide metaverse-focused crypto assets”
said Ball, as reported by Decrypt.
The launch comes at a time when major metaverse-related tokens, including The Sandbox’s SAND and Dececraland’s MANA, have witnessed corrections of about 70% from their all-time highs.
“The metaverse is one of the most audacious and exciting ideas ever conceived”
said managing director of Multichain Capital, Kyle Samani.
Despite the recent carnage of metaverse tokens, the fund house believes the metaverse is inevitable, and blockchain-based products will play a key role in its success.
Index funds make it easier for investors to participate in the crypto revolution without the headache of actively tracking investments. Qualified fund managers are hired to maintain portfolios.
Ball Multicoin Bitwise Metaverse Index Fund will be available to investors will a minimum corpus of $100,000.