Fidelity Investments, a financial services company, has introduced two new digital experiences in the metaverse to help improve financial literacy among younger generations. The two experiences are Pancake Empire Tower Tycoon in Roblox and Bloom-o-rama in Decentraland. Pancake Empire Tower Tycoon is an educational game on Roblox that introduces users to real-life money situations such as spending, saving, and investing using pancakes. The game is designed to be entertaining while teaching users about financial decision-making. Users can buy pancakes that produce in-game currency called YumYums, which can then be deposited with three friendly creatures that offer returns ranging from safe to risky, simulated by varying levels of risk in investing. Players can spend their currency on upgraded pancake flavours or save for the next round to reflect how money decisions can impact everyday life.
Bloom-o-rama, on the other hand, addresses the struggles that younger generations encounter when it comes to building healthy financial habits. According to a recent Fidelity study, 59% of young adults “cringe” at the thought of checking their bank account balances, and many have difficulty navigating their relationship with money. Bloom-o-rama uses the principles of Fidelity Bloom, a free financial app, to provide young investors with a fun and stress-free way to learn about financial habits that will last. Visitors navigate a hedge maze to learn and gather saving, spending, and investing tips. They can also learn helpful money mantras from bull and bear topiaries and apply their learnings through short quizzes reinforcing financial tips. Visitors can unlock four unique wearables such as Power Petal Suit, Bibi’s Boost Pack, Bibi Shades, and Bloom-o-vision and three custom emote expressions. Those who complete all tasks can earn a chance to win $25,000 in a Fidelity Bloom Save account through an exclusive sweepstakes.
Moreover, Fidelity has launched a mobile experience called Money Melodies that accompanies Bloom-o-rama in Decentraland. Money Melodies is a real-time audio and visual meditative experience that reflects and interprets market data. It serves as the custom soundtrack for Bloom-o-rama in Decentraland.
Kathryn Condon, the Head of Marketing at Fidelity, said that “Helping the next generation of investors build long-lasting money habits is a priority. With these new and relevant experiences, we’re providing them with tools to build their knowledge and create a strong financial foundation for the future.” According to Condon, both Pancake Empire Tower Tycoon and Bloom-o-rama were built using a scan, try, and scale approach to innovation, where Fidelity experimented with new platforms to reach its target audience.
Fidelity’s initiative comes at a time when many parents are worried about their children’s financial future. A recent Fidelity study showed that 68% of parents are increasingly worried about their children’s financial future, and the number is even higher among Millennial parents, with 71% raising Generation Alpha. Given that many of these children spend a significant amount of time online, there is an urgent need to meet them where they are with accessible financial education and make it fun.
Fidelity’s initiative is the latest in the company’s ongoing commitment to providing financial education to its customers. In line with National Financial Literacy Month, the company has introduced several learning forums, including events with professional basketball players and collaborations with nonprofit organizations.
Overall, Fidelity Investments has taken a commendable initiative to educate and empower the next generation of investors with the necessary financial skills and habits. The company recognizes the importance of meeting its customers where they are and understands the power of immersive experiences in the metaverse to engage and educate its target audience.
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