Despite the dying trend of metaverse gaming and social media, many companies are still pushing them quite hard. The decision by Blackrock to introduce a new ETF may bring more attention to the concept of the metaverse and much-needed funding in the industry.
META’s efforts to create its metaverse failed miserably with the company’s shares losing over 48% of their value and the CEO desperately trying to ignite the interest in the concept in millions of users whose numbers are dwindling. However, the trend is different in the crypto industry where multiple metaverse projects are in active development and seem to be doing just fine.
Why Blackrock’s ETF matters
This fund management company is one of the largest in the world and holds immense authority in the eyes of millions of retail traders and investors. The idea of creating an ETF that would revolve around companies that are developing new metaverse products and interesting games that have elements of web3 is a good indicator that it is interested in the concept and that Blackrock has a plan on how to capitalize on the rising demand for products in this industry.
According to the most recent filing, the ETF is coming. It is a question of “when” rather than “if”. We will see a new financial instrument that can bring a direct influx of cash to the crypto industry and companies that are building metaverse products that can dramatically change the landscape of gaming and social media platforms.
The future of the crypto industry may not lay within the realm of video games and entertainment in general, but game-centric finance (gamefi) is a huge part of what made cryptocurrencies pop into the mainstream.
Should we also focus on blockchain games?
Web3 is a very interesting concept that does not have any defined characteristics yet. On the other hand, NFTs seems to be a great fit for games in particular. It means that metaverse games can potentially cater to a very wide audience interested in new blockchain-based products, gamefi solutions, and NFTs. It seems that Blackrock wants to tap into this domain too.
