Fidelity Investments has expanded its presence in the metaverse with “The Fidelity Stack” a building in Decentraland that offers interactive experiences.
Fidelity Investments is moving into the metaverse after announcing “The Fidelity Stack,” a building in Decentraland that will allow users to learn about investing and interact with its ETFs and mutual funds. The firm had earlier announced Fidelity Metaverse ETF (FMET), which went live on Thursday.
— Fidelity Investments (@Fidelity) April 21, 2022
The firm is developing an immersive learning ecosystem aimed specifically at young investors. It will also help potential investors learn more about its product offerings.
In a phone interview with MarketWatch, Kathryn Condon, director of marketing channels and emerging platforms at Fidelity, said:
“Fidelity is the first brokerage firm to develop this immersive educational experience.”
The interactive experiential learning interface taps into the popular phenomenon that “people learn more from experience.” As such, it will create tools that will educate those interested in stocks, ETFs and mutual funds in an interactive virtual space.
Fidelity is building on its achievement last year, when it saw 3.8 million investors 35 and under open accounts. While “The Fidelity Stack” will be available to everyone for free, the company hopes it will especially attract 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 the basics of investing and the firm’s fund offerings,” Condon said.
The new immersive experience service will initially be offered only to investors, who could be joined by Fidelity representatives in the future.
“We’re very interested to see how people interact with this and will decide as we evolve,” he said, adding that users will be able to leave any queries in a suggestion box.
David Dintenfass, chief marketing officer and head of emerging clients at Fidelity, said the new service is being offered as part of the company’s broader strategy to “keep up with the next generation.”
“Learning by doing – which is consistent with metaverse – is the next step in the long line of things we’re trying to do to reach that next generation,” he added.