Fidelity Investments, an American brokerage firm, just unveiled its financial education experience in the metaverse with the optimism of appealing to a new generation of customers.
Decentraland users are advised to acquire knowledge about the basics of ETF investing while they delve into the Fidelity Stack, a multi-story building with features such as a dance floor, lobby, and rooftop sky garden.
“We’re part of a dynamic shift as young people take control of their finances in new ways,” David Dintenfass, Fidelity’s chief marketing officer and head of emerging customers, said in a statement.
“The next generation seeks out financial education in all the places they spend time, whether physical or virtual.”
Bank analysts at Citi recently calculated that the Web3 economy would reach between $8 trillion and $13 trillion by 2030.
JP Morgan launched a virtual lounge in Decentraland in February, and financial services provider HSBC disclosed last month that it would procure virtual real estate in the Sandbox metaverse.
Fidelity aspires to give educational resources to younger investors after conducting a survey released earlier this month which found that kids are more accustomed to crypto than their parents. The study was conducted by T. Rowe Price, who discovered that 40% of the children studied believed in crypto as the future of investing.
According to Investopedia’s 2022 financial literacy study, it was discovered that while crypto investments are well known among Generation Z, millennials and Gen X investors, an estimated 49% of Americans have only a basic knowledge of cryptocurrency.