The Hang Seng China Metaverse Index was recently launched by Hang Seng Indexes Company Limited, managing and collating the Hang Seng Family of Indexes. The new index aims to measure the performance of mainland Chinese companies that do business in the Metaverse.
The index was created amid the growing popularity of Metaverse as an investment theme among investors. The company stated in a press release:
“Developments as part of the metaverse concept, which includes virtual reality (VR), gaming, and other digital experiences that use advanced technology in virtual spaces, have captured the attention of people worldwide and are rapidly growing in popularity as investment themes among investors. Riding on this trend, the Hang Seng China Metaverse Index aims to reflect the performance of mainland China companies that are involved in metaverse-related business, value chains, and development.”
Other Indexes were also launched.
Apart from the Metaverse index, another index, ‘Genomics and Oncology Index,’ was also introduced, which will track the companies involved in the research and development of genomics and cancer-related diseases. The newsletter stated:
“As genomic medicine and innovative drugs develop as mainstream treatments for cancer and other diseases, the Hang Seng Shanghai-Shenzhen-Hong Kong Genomics and Oncology Index aims to track the performance of companies that are involved in the research and development of genomics or oncology-related products and services.”
Daniel Wong, the Director and Chief Index Officer at Hang Seng Indexes Company, said that Metaverse and genomic & oncology research are megatrends. The index will help investors keep track of these megatrends’ happenings.
“New megatrends are having an increasingly significant impact on our daily lives. Our two new megatrend indexes are designed to help investors capture potential opportunities from these innovative and transformative trends in the mainland China and Hong Kong stock markets.”
They’ll be joined by the E-Commerce Index, the NextGen Communications Index, and the Generation Z Index, among other new services.
The Hang Seng Family of Indexes has approximately USD44 billion in assets under management by the end of 2021.
Index Coop manages another Metaverse Index. The Metaverse Index (MVI) tries to track virtual entertainment, sports, and business trends.
The index is based on the below underlying tokens:
Illuvium, Axie Infinity, Sandbox, Decentraland, Enjin, WAXE, Rally, Audius, Yield Guild Games, Decentral Games, Ethernity Chain, NFTX, Whale, Terra VirtuaKolect, Rarible, and REVV.
The MVI index currently shows a trading price of $ 57.71, down by 1.08 %.
The market is shown to be $ 10 million at present.
Metaverse gaining popularity
Metaverse has been recently gaining popularity across the world. Despite the overall crypto market in a bear trap, the technology has huge applications in many everyday aspects of life, from gaming to conducting business meetings or even creating an immersive virtual office. Blockchain technology, upon which Metaverse is based, is evolving rapidly. As more and more companies move on the blockchain bandwagon, the related techs like Metaverse, DeFi, and others will exponentially rise. Quik.com, an NFT domains marketplace recently launched the minting of .metaverse NFT domains.
Already we can see the biggest companies like Facebook, Nvidia, and Microsoft have started investing heavily in this space.