Nomura Forays Into Metaverse To Tap Opportunities That Could Reach $600B By End Of Decade

Japan's leading brokerage Nomura Holdings Inc NMR, built a team to help firms tap opportunities in the metaverse, Bloomberg reports.
Nomura joins rival Wall Street giants in exploring opportunities in the virtual reality market that could reach $600 billion by the end of the decade, Bloomberg wrote.
Nomura's plans for the metaverse are part of a broader digital push, which CEO Kentaro Okuda considered a "critical part" of the brokerage's expansion into private markets to bolster profit.
The brokerage's Digital Company may recruit "a few dozen" partly to boost its research and development of metaverse and other blockchain-driven services.
Nomura will launch a subsidiary within the Digital Company to help institutional clients access products and services related to cryptocurrencies, stable coins, and non-fungible tokens (NFTs).
Nomura also recently started offering Bitcoin derivatives to clients in Asia after institutional demand for cryptocurrency products "significantly" increased in the past two years.
Nomura considered using its investment banking knowledge to help companies in the virtual space raise money and advise on how to navigate regulations as they emerge, its senior MD said.
Nomura could make money by creating securities out of digital assets, like shoes and other non-fungible tokens.
Price Action: NMR shares traded up by 2.15% at $3.73 on the last check Thursday.