South Korea $200B Wealth Fund Eyes Metaverse Move
The head of the Korea Investment Corp has said that it is looking into investing in the Metaverse.
Seoungho Jin added that alternative assets could represent 25% of the fund’s portfolio by 2025.
Interest in the Metaverse has skyrocketed since Facebook announced its rebrand to Meta late last year.
Share this article
Metaverse hype keeps growing.
South Korea Fund Looks to Metaverse
After Adidas, Facebook, and the Turkish government, South Korea’s sovereign wealth fund could be the next giant to explore the Metaverse.
The head of the $200 billion Korea Investment Corp has said that it is looking into investing in the Metaverse and AI as it makes a push to embrace alternative assets, Bloomberg has reported.
Seoungho Jin, who’s been at the helm of the fund since mid-2021, said that the fund was not put off by the Federal Reserve’s planned interest rate hikes, which have been a cause of uncertainty for global markets and contributed to a Big Tech stock and crypto selloff over recent weeks.
He said that hotels could be a strong bet in the recovery from Coronavirus and that he still sees potential in Silicon Valley investments. “Some investors say Silicon Valley is already saturated, which I have to concede is partly true, but it is still a source of global growth,” he told local media. “There are still plenty of good opportunities, if you chase them eagerly.”
Jin added that the fund could expand its investments into alternative assets to represent around 25% of its portfolio by 2025, and estimated that its assets under management could swell to $300 billion.
“Metaverse” has become something of a buzzword in the tech and crypto worlds of late, though its true definition remains unclear. It loosely refers to a next-generation version of the Internet that combines virtual worlds and augmented reality for people to connect, play games, and participate in other activities with other users.
The Metaverse is often referred to in close tandem with cryptocurrency technology and Web3, as it’s expected that blockchains will underpin much of the Metaverse of the future. If the Metaverse lives up to its potential, it’s possible that Internet users could earn crypto tokens for using decentralized social media platforms, playing games like Axie Infinity, and more.
Since Facebook announced its rebrand to Meta in October 2021, mainstream interest in the Metaverse has reached new highs. Metaverse-based cryptocurrency projects like Decentraland and The Sandbox have also benefited from the boom. Their tokens soared following the announcement, while plots of digital land in the virtual worlds have become extremely sought after. The Sandbox has recently sold land in NFT form to Gucci, PwC, and Snoop Dogg, with the most valuable virtual estate plots on the game fetching millions of dollars.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Want NFT Fries With That? McDonald’s Preps Metaverse Play
McDonald’s could be the next major company to enter the Metaverse. McDonald’s Files Virtual Goods Patents It looks like McDonald’s could be preparing to make a big Metaverse play. Recent…
Turkey’s Erdoğan Orders Study of the Metaverse
Turkey appears increasingly interested in blockchain and the Metaverse specifically, if recent directives from its president are any indication. Turkey in the Metaverse Turkish President Recep Tayyip Erdoğan has ordered…
NFT Express: Your on-ramp to the world of NFTs
At Tatum, we’ve already made it super easy to create your own NFTs on multiple blockchains without having to learn Solidity or create your own smart contracts. Anyone can deploy…
The Metaverse to Trillions? Virtual Worlds Turn Bullish
Decentraland and The Sandbox are soaring as interest in the Metaverse continues to grow. As the crypto market rebounds from its latest dip, MANA and SAND both look poised for…