Quick take:
- Fidelity Investments has extended its presence in the metaverse after launching “The Fidelity Stack” in the Decentraland metaverse.
- The company recently announced the Fidelity Metaverse ETF (FMET), which debuted on Thursday.
- The fund issuer is targeting the younger generation of investors with an interactive metaverse experience.
Fidelity Investments is diving deeper into the metaverse after announcing “The Fidelity Stack” a building in Decentraland that will allow users to learn about investing and interact with its ETF and mutual funds. The firm had earlier announced Fidelity Metaverse ETF (FMET), which went live on Thursday.
The company is developing an immersive learning ecosystem specifically targeted at young investors. It will also be helping potential investors learn more about its product offerings.
Speaking to MarketWatch in a phone interview, Kathryn Condon, Fidelity’s head of marketing channels and emerging platforms said “[Fidelity] is the first brokerage firm to develop this immersive educational experience.”
The interactive experiential learning interface is tapping on the popular phenomenon that “people learn more by experience”. Therefore, it will create tools that will educate those interested in stocks, ETFs and mutual funds in a virtual interactive space.
Fidelity is building on its achievement last year when it saw 3.8 million investors aged 35 years and below open accounts. Although “The Fidelity Stack” will be available to all for free, the company hopes it will especially gain the attention of the younger generation of investors.
The metaverse building is a place where investors can “hang out on a dance floor or explore different floors to learn about investing basics and the firm’s fund offerings,” said Condon.
The new immersive experience service will initially be offered to investors alone with, Fidelity representatives potentially joining in the future.
“We are really interested to see how people interact with this and we’ll decide as we evolve,” she said, adding that users will be able to drop any queries in a suggestion box.
David Dintenfass, chief marketing officer and head of emerging customers at Fidelity said the new service is offered as part of the company’s broader strategy of “staying current for the next generation.”
“The learning by doing – that’s consistent with the metaverse— is the next step in the long line of things we’re trying to do to reach that next generation,” he added.
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