Emerging Markets Expert and Founder of Mobius Capital Partners, Mark Mobius, isn’t pissed off by the Metaverse, but thinks the companies developing them could be an interesting opportunity. He also had a lot to say on other topics like cryptocurrency and recession.

What happened: Möbius in an interview with omni.fm said the service, offered by companies linked to Metaverse, could be very desirable.

Well-known companies associated with it sector Include Facebook parent Metaplatforms Inc METAchip manufacturer NVIDIA Corp. NVDA, Unity software u and Roblox Corp. RBLX.

The veteran investor said he will keep an eye on Ukraine, what is happening in broader US markets and interest rates, and most importantly the growth prospects of companies in emerging markets that have not been hit by the downturn.

On crypto: Mobius said that cryptocurrencies are leading the market because there are millions of people who have invested in different ways. “I always tell people that I don’t like speaking about cryptocurrencies in public. It’s a matter of faith.”

The two largest cryptocurrencies by market cap are currently Bitcoin BTC/USD and ether ETH/USD.

Also read: Australian consumers lost a whopping $14 million in scams involving bond scammers in the first half of 2022

On recession: Dubbed the “Indiana Jones of emerging market investing,” Mobius said consumer confidence is not very good but consumer spending is strong in the United States.

“In such an environment, once unemployment rises, there will be a recession, which is not the case yet.”

Heavily export-dependent emerging markets will struggle, except for companies involved in technology, he said.

Prospects for India: Mobius said the beauty of the Indian situation is that there are about a billion people and they have a very strong domestic market that is getting stronger every day.

In India, Mobius is exploring software and certain types of hardware while investing heavily in companies that support the production of chips….