NEW YORK CITY, NY – Fidelity Investments is committing to providing accessible financial education to help the next generation of investors grow their knowledge of money and build healthy financial habits. The firm has partnered with Roblox and Decentraland to create Pancake EMpire Tower Tycoon and Boom-O-Rama, respectively, to teach financial literacy in the metaverse, engaging users through gameplay to achieve this goal.

Financial literacy in the metaverse

A recent Fidelity study found that over 59% of younger adults aged 18 to 44 “struggle to navigate their relationship with money” and are “anxious, uncertain, and defeated from previous failed attempts at budgeting and saving.” 

Fidelity’s Pancake Empire Tower Tycoon and Bloom-O-Rama launches are meant to address these challenges. The investment firm is helping to alleviate these struggles and worries by making financial education more accessible and fun for younger generations.

Pancake Empire Tower Tycoon

In partnering with Roblox, Fidelity will engage the web3 platform’s game Pancake Empire Tower Tycoon to teach children the risks of investing. The game is designed to introduce children to personal finance basics in an engaging way. It currently has 67 million daily users.

Users buy pancakes that produce “YumYums,” collected and converted into a virtual currency used in the gameplay. Players choose one of three creatures to deposit their YumYums with returns ranging from low risk to risk, mirroring the varying levels of real-world investing. 

Fidelity’s Bloom-O-Rama

Fidelity’s Bloom-O-Rama is the product of its partnership with Decentraland. Bloom-O-Rama guides users through quests and challenges to cultivate a more mindful approach to money. The game provides young investors a fun way to engage with finances and build mindful money habits. 

Players navigate a hedge maze to gather tips for saving, spending, and investing. They learn helpful money mantras from the topiaries of a bull and bear and apply their learning through short quizzes, reinforcing financial literacy. The accompanying mobile app, Money Melodies, is a real-time audio and visual experience reflecting market data. 

The Head of Marketing at Fidelity, Kathryn Condon, explained, “We apply a scan, try, and scale approach to innovation, and our experimentation with new platforms is no different. Helping the next generation of investors build long-lasting money habits is a priority.”

Teaching financial literacy in the metaverse

Perhaps one of the most effective ways to utilize the metaverse is as a teaching tool. Here are four ways to teach financial literacy in the metaverse: 

1. Interactive simulations: Using virtual reality simulations, users can make financial decisions and understand the impact of their choices on potential returns and risks. 

2. Quests and challenges: By requiring users to make financial decisions in quests and challenges, metaverse platforms can make learning interactive.

3. Gamification: Metaverse platforms can use gamification elements like points, leaderboards, and rewards to motivate users to learn more.

4. Personal learning: Users can analyze their financial behavior and provide personalized recommendations on improving their financial habits. 

Teaching financial literacy in the metaverse requires creativity and innovation to engage and educate younger generations. By creating immersive experiences, financial education can be accessible and engaging.