For a precious few months—say mid-2016 on into 2017—the idea of virtual reality and its sibling augmented reality becoming an actual reality on Wall Street were starting to take shape. Facebook had released the Oculus Rift VR headset. Microsoft released its mixed reality HoloLens. After fits and starts, Google Glass, an AR wearable device, hit the market. And who could forget the Pokémon Go craze in the summer of 2016?

Around that time, Citi and Fidelity Investments started to explore the

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