The metaverse is a future version of the internet that is currently being developed. Other popular ways to refer to the metaverse are The Mirror World, AR Cloud or Magicverse. Making the metaverse is a big job, and it's going to take a large number of companies and innovators. It will likely be the combination of the internet, virtual reality, augmented reality, digital worlds, cryptocurrency and NFTs. If all goes as planned, the metaverse could be the biggest investing opportunity since the birth of the internet.
There are a handful of companies that are taking initiative for developing the metaverse. Let’s take a look at which of these companies are the best metaverse stocks to buy.
Best metaverse stocks to buy now
Coinbase Global (NASDAQ:COIN)
The first metaverse stock with exceptional upside potential over the next year is the leading cryptocurrency exchange and ecosystem Coinbase Global. Coinbase would be a pretty obvious beneficiary of the metaverse. It could become the de facto stop for digital currency purchases needed within virtual worlds or ecosystems.
Meta (Nasdaq: FB)
Facebook is already leading the way in terms of virtual and augmented reality. With more than 3 billion monthly active users, Meta is used by almost half of the global population. While its social media apps generate most of the revenue, Meta made a strategic move to pivot the company's focus toward the metaverse. To start, the company wants to help develop the core technologies -- like virtual reality (VR) and augmented reality (AR) -- as well as the social platforms that will bring the metaverse to life.
Facebook’s stock is up about 150% over the past five years and is up over 20% in 2021. At the time of writing, shares of the social media giant are trading at 16.8 times forward price-to-earnings (forward P/E). It is trading at reasonable price multiple for the first time in a while. A. Therefore, it is one of the best metaverse stocks out there.
Microsoft (Nasdaq: MSFT)
The next best metaverse stock to buy is Microsoft. Microsoft has been a technology beast since the internet was invented. It has had positive growth in the past few years, and it continues to grow because of its innovative products and services. With investments in AI, cloud computing and mixed reality, it is confidently moving forward into the future. The investment in the metaverse is just one more step in the right direction.
Microsoft’s stock is up about 410% over the past five years and 35% so far in 2020.
Roblox (Nasdaq: RBLX)
Roblox Corporation is a technology enterprise that provides a digital platform where people can share experiences through gaming, entertainment, social media, and toys. The company was founded in 2004 and has its headquarters in California in the United States. This video gaming enterprise operates internationally, with Roblox games played all over the globe.
NVIDIA
NVIDIA is one of the top companies for Meta to strike a deal with Metaverse market. It took an initiative to distribute free copies of a programme built for developing Metaverse-ready assets known as Omniverse. NVIDIA is becoming a popular company developing Metaverse by supporting artists as well as content creators to build virtual worlds and products. The Metaverse company has a series of partnerships related to the sharing of Metaverse-related content. It will also help users to create personalized avatars to bring visions to life.
Unity Software
Unity Software is a well-known company for Meta to help develop the Metaverse. It offers a real-time 3D software development platform with access through augmented reality or extended reality. It is focused on empowering businesses with the supply of advanced tools and technologies such as 3D, 2D, virtual reality, and augmented reality to develop Metaverse technology.
Snapchat
Snapchat is one of the growing Metaverse companies that announced the launch of a new avatar lens showing how a user or player will look in the Metaverse. The avatar filter leverages augmented reality that allows avatars to change clothes and faces as per the mood. This company is developing Metaverse through the launch of 3D Bimojis. This update of virtual humans is promoting the speed of the Metaverse technology.
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