Fidelity Ventures Expands Its Quest For Young Investors Into The Metaverse

The Fidelity Stack, which was developed in Decentraland, a web platform that simulates a metropolitan area complete with commerce districts, offices, and event spaces, is open to all but is primarily targeted at 18-35 year-olds, according to David Dintenfass, chief marketing officer and head of emerging customers at Fidelity.

"We're attempting to ensure that we remain relevant for the next generation," he explained in an interview.

In 2021, investors aged 18 to 35 registered 3.8 million new Fidelity brokerage accounts, and the business has made a concerted effort to communicate with them, including through its own Reddit sub-thread and TikTok account.

Fidelity, based in Boston, created a brokerage account last May that is solely for minors who are supervised by their parents. About 60,000 accounts have been opened thus far, Dintenfass said.

"Learning by experience is congruent with the metaverse," he explained.

"This is the latest in a long line of efforts to reach the next generation."

The Fidelity Stack allows users to tour the interior of the structure, which includes a dance floor and rooftop sky garden, and is designed to push them to understand the fundamentals of ETF investing while collecting "orbs" along the way, the company said.

Dintenfass will not disclose the price Fidelity paid for the virtual space within Decentraland.