To achieve this, the metaverse will rely on blockchain to transfer identity and ownership across virtual worlds, attestation to verify them, and payment rails that allow people buy, sell, and earn income within a decentralized economy. It will be important for any metaverse to be trustless - meaning people can interact directly without going through an intermediary - and permissionless - meaning anyone can participate without authorization from a governing body. Coinbase Co-founder and CEO Brian Armstrong emphasized (edited): Instead, it wants to help create "an identity on-ramp into the metaverse." The company believes that "unlike today’s Internet, there won’t just be one metaverse." Instead, it believes there will be a series of interconnected virtual worlds that will depend on blockchain technology to operate. But COIN is not trying to build its own metaverse per se. In its most complete form, it will be a series of decentralized, interconnected virtual worlds with a fully functioning economy where people can do just about anything they can do in the physical world."Ĭoinbase believes that it also has the attributes to participate in the metaverse opportunity. It explained that the metaverse is not Web 3.0 as "( Web 3.0) is about digital ownership within an open, decentralized environment." Instead, the metaverse is "the distant evolution of (Web 3.0). Readers should also note that COIN is one of the component stocks within META ETF's holdings.Ĭoinbase explained that Matthew Ball heavily influences its perspective on the metaverse. In contrast, as Meta Platforms builds out its metaverse opportunity, IG is estimated to be Meta's most significant ad revenue driver in the next few years.Ĭoinbase ( COIN) published an excellent article detailing the company's view of the metaverse opportunity. Moreover, as we also covered in a recent FB article, highlighting that Instagram (IG) is far from being defeated. While its reputation has suffered this year, it's still the largest social media platform globally. We also have a strong conviction in Meta Platform's metaverse strategy. ( SNAP ) has also leaped into the top six, ahead of Amazon ( AMZN ). Nvidia ( NVDA ) remains as the company's top holding, accounting for 8.53% of the ETF's holdings. Meta Platforms ( FB) stock has risen to become the company's second-largest holding since late November. Readers can refer to the above chart where we observed that there have been a few notable changes to META ETF's top six holdings since we last covered it. Key Changes in META Top Holdings Since Late NovemberĬhanges in META top six holdings since 26 November'21. Readers who need an introduction can refer to our previous article here. Therefore, we think it's apt for us to provide an important update for investors who may have been waiting for an opportunity to add a diversified metaverse ETF. As a result, the ETF has recovered some ground consistent with the recovery in growth stocks. Roundhill Ball Metaverse ETF ( META) retraced recently after undergoing a momentum spike in line with its leading holdings. Meta does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.Niphon/iStock via Getty Images Investment Thesis Please note that any opinions, estimates or forecasts regarding Meta’s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Meta or its management. Meta is followed by the analyst(s) listed above.
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