South Korea is the fastest growing VR market in the world
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South Korea is an Asian market to bet on this technology, and a large number of exchange-traded commodities and stocks will benefit, according to Metaverse stock fans.
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Korean ETFs focused on the metaphor, many of which are already listed, have made double returns this month, surpassing the 0.3% drop in cospy. Most of the other instruments focusing on this concept are in South Korea, with the exception of the popular US exchange Roundhill Ball Metaverse, according to data compiled by Bloomberg.
Since their start on October 13, prices for Mirae Asset Tiger Fn MetaverseETF, the country's largest by market value, Samsung Kodex K-MetaverseActiveETF, NH-Amundi HANARO K-Metaverse MZETF and KBKBSTAR iSelect MetaverseETF have risen by 24%.
South Korea is the fastest growing metaphor ETF market worldwide, hitting $100 million in assets in just two weeks, according to Rebecca Xing, an analyst with Bloomberg Intelligence. Market demand is a flow factor and this trend may continue in the region with Australia and Taiwan. Ever since Facebook Inc. renamed Meta Platforms Inc. at the end of October, the metaphor has become a watchword for markets as it combines virtual and augmented reality. This has boosted everything from U.S.-linked ETFs and Taiwanese vendors to Chinese VR funds as investors try to get a piece of the market, estimated at up to $800 billion by 2024.
The stock that rose in the short three-week period was US chip maker Nvidia Corp. and gaming company Roblox Corp.
The Korean metaphor ETF has raised about $300 million in cumulative inflows this year, according to data compiled by Bloomberg, with a significant portion coming in this past week. The death of the Bank of England said that 90 percent of record flows could be attributed to retail investors by the end of the year.
the metaphorical theme was clearly evident to Korean video game publishers in the latest season of earnings, Morgan Stanley analyst Seyon Park wrote in a note. The company updated NCSoft Corp. before the odds on Tuesday, giving its rating in line with Pearl Abyss.
Publishers who can use play-to-earn and unlimited tokens to enhance their gaming experience will benefit, Park said. NCSoft and Pearl Abyss dollars rose 16% and 36% in November.
NCSoft is ready to release a new title based on an unused token, while Korean search operator Naver Corp. is negotiating with SoftBank Group Corp. to raise funds. Internet giants Kakao Corp. and SK Telecom Co. also joined in the metaphorical struggle.
According to Douglas Kim, an analyst at the Smartkarma platform, the Metaverse ETF in Korea could be the leading indicator of the Korean stock market and metaverse-related stocks in general.
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