New fund hopes to put ‘legitimate’ metaverse within reach of investors

Whether through platforms, assets, tools, or infrastructure, there is a wide variety of cryptocurrency developers working to bring the metaverse to life. Now, one of the leading voices in Metaverse has launched an index fund focused on crypto-assets related to the next-generation internet.

On Tuesday (7), author and venture capitalist Matthew Ball announced the launch of the “Ball Multicoin Bitwise Metaverse Index” in partnership with Multicoin Capital and Bitwise Asset Management. Bitwise also provides related funds for qualified buyers.

“We developed the Ball Multicoin Bitwise Metaverse Index because, prior to today, investors did not have an easy, professional, and methodologically diverse way to gain broad exposure to cryptoassets, with a focus on the legitimate Metaverse,” explained Ball. decrypt.

“For this reason, the index does not exist in time A or market condition B. It exists so that investors can participate in the multi-trillion dollar transformation that we believe will unfold over the next decade,” he continued.

In the executive’s opinion, “If blockchain is relevant to the future of Metaverse and our approach is sound, we believe the opportunity is huge — today, tomorrow, next month, etc.”

Index composition

The index will consist of up to 40 cryptoassets selected by the partners, but the list of included assets has not yet been aligned with the decrypt until publication time.

The Bitwise Associated Fund is open to qualified buyers with a minimum investment of $100,000.

Ball describes the “Ball Multicoin Bitwise Metaverse Index” as “a rules-driven index that combines the best of institutional indexing methods with special adaptations to the crypto and Metaverse worlds.”

According to the businessman, this includes several risk monitors, such as liquidity analysis, developer activity, technical and regulatory risk, and correlation with the metaverse.

“The main goal is to curate cryptocurrencies that will be the biggest contributors to the creation and success of the open metaverse,” he added.

Cryptocurrency and the Metaverse

Metaverse refers to the future version of the internet that many believe will be powered by blockchain technology. This is expected to be a more immersive and interactive experience, with people working, playing, shopping and socializing through 3D avatars.

This new version of the internet will also be able to use non-fungible tokens (NFTs) to represent user-owned items such as avatars, equipment, and virtual terrain.

Games developed on Ethereum, such as Decentraland and The Sandbox, are considered the first examples of Metaverse.

Facebook has also laid out its own vision for the industry, even renaming its parent company Meta in 2021. It’s unclear, though, whether Facebook’s plan is to create an open platform that’s interoperable with others.

Who is Matthew Ball?

Matthew Ball is a great fictional world writer whose work has been published in major media such as New York Times, economist and Bloomberg.

His book, The Metaverse: And How It Will Revolutionize Everything, is expected to be released by WW Norton in July.

He is also the managing partner of EpyllionCo, which has invested in cryptocurrency startups such as Dapper Labs and Mirror, and a business partner of the Makers Fund.

Ball is also responsible for the Roundhill Ball Metaverse ETF, which is based on Metaverse-focused stocks and traded on the New York Stock Exchange (NYSE).

“Our goal is to create a diversified, balanced and well-thought-out Crypto Metaverse index,” said Kyle Samani, co-founder and managing partner of Multicoin Capital.

“It takes a well-trained team,” he continued. “Matthew Ball is the ultimate Metaverse strategy and investment leader. We are crypto experts and one of the leading crypto investment firms. Bitwise Asset Management is a major leader in crypto indices and index funds.”

*Translated by Daniela Pereira do Nascimento with permission Decrypt the website.

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