3 Metaverse Stocks For Your Late March 2022 Watchlist

Metaverse stocks have been a popular theme in the stock market over the past couple of years. Before diving deeper, let us understand what the metaverse could potentially be. In brief, many think of the metaverse as a virtual world with an immersive digital interactive experience. This is enabled by the use of virtual reality (VR) and augmented reality (AR). Notably, many tech companies are already making their moves to gain a foothold in the metaverse. 

For instance, Snap (NYSE: SNAP) recently announced the acquisition of NextMind, a neurotech company. This will be part of its effort to help drive long-term AR research efforts within Snap Lab. As presently constructed, NextMind has developed non-invasive brain-computer interface technology that allows easier hands-free interaction using electronic devices. Thus, the addition of NextMind would hopefully improve the way Snap can serve humanity through technology. 

Aside from Snap, Nvidia (NASDAQ: NVDA) also recently launched its new NVIDIA Omniverse features. These features for game developers include updates to Omniverse Audio2Face™, Omniverse Nucleus Cloud, and Omniverse DeepSearch. Therefore, it would likely make it easier for game developers to share assets, sort asset libraries, collaborate, and deploy artificial intelligence to animate characters’ facial expressions for new games. With all said and done, there are reasons to believe that the metaverse will eventually become a part of our lives. So, let’s look at some of the top metaverse stocks in the stock market today. 

As the name suggests, Meta Platforms is a social technology company that envisions a future defined by the metaverse. Formerly known as Facebook, the company is notable for its family of apps that enable people to connect through mobile devices, personal computers, and many other devices. Its apps include Facebook, Instagram, Messenger, and WhatsApp. With the company’s growing focus on the metaverse, it is understandable why FB stock is often in the discussion for being a top metaverse stock to watch.

On Thursday, Meta inked a partnership with VNTANA, an e-commerce technology firm. The integration with VNTANA will allow brands to upload the 3D models of their products to Facebook and Instagram. Additionally, it could also easily convert them into advertisements. Investors should also note that Meta previously partnered with augmented reality (AR) companies Modiface and PerfectCorp. Overall, the move could be a stepping stone into advertising in the metaverse. 

In other news, Meta together with Aqua Comms and Bulk Fiber Networks also announced the completion of the construction of the Havhingsten subsea cable system. The cable system runs across the Irish Sea from north of Dublin, Ireland to south of Blackpool, U.K. This new route would offer resilient network architecture options for enterprises, carriers, and hyperscalers while maintaining the lowest latency possible. In short, it will bring greater connectivity across Europe and the Nordics. All things considered, do you believe that there will be more room to grow for FB stock? 

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Unity

Similar to Meta, Unity is a company that will likely play a significant role in the metaverse. For those unaware, the company offers a platform for creating and operating interactive, real-time three-dimensional content. Its platform includes Create Solutions and Operate Solutions. These would enable customers to create, run, and monetize their content across a range of third-party content platforms. Like many other tech stocks, U stock has been under pressure in recent months. Could things be turning around anytime soon? 

Earlier this month, Unity announced a new partnership with Insomniac Events. With nearly 30 years of experience in creating experiences based on community, Insomniac would likely bring a brand new, and persistent metaverse world to its fans. In addition, the partnership will likely define a new standard of live entertainment by delivering the next evolution of the Insomniac experience. As a result, the companies could offer virtual live music performances regardless of location. 

Besides that, Unity also released its Gaming Report 2022 recently. The report offers an extensive view of the state of gaming while revealing player behaviors throughout the pandemic and detailing trends. According to Unity’s data, it appears that the gaming industry will be long-lived and sustainable. In 2021, the number of gamers is at far higher levels than they were pre-pandemic and the industry has also lived up to the demand. On a sense of scale, the number of games made with Unity increased by 93%. Considering these factors, would U stock be worth watching right now?

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Roblox

Lastly, we have another contender in the metaverse space, Roblox. In detail, this is a tech company that operates a human co-experience platform. Through the Roblox Platform, users can interact with one another to explore and develop user-generated and 3D experiences. The company’s mission is to bring the world together through play. Some may argue that Roblox is a platform for the future as it is now one of the top online entertainment platforms for audiences under the age of 18. With that said, RBLX stock is currently trading over 48% lower than its price at the beginning of the year. Is this an opportunity to buy on dips?

Last week, Roblox released certain key metrics for February 2022. Its revenue for the month is estimated to be between $204 million to $207 million, an increase of 60%-63% year-over-year. Another key metric to note is its daily active users that increased to 55.1 million, representing an increase of 28% year-over-year. Meanwhile, the hours engaged were 3.8 billion, an increase of 21% from the same period last year. Overall, these are encouraging numbers across the board that could excite investors. 

On top of that, we can see that Roblox is ramping up its presence in the metaverse lately. The company and Sony (NYSE: SONY) announced that music artist 24kGoldn will perform a virtual concert inside its platform for user-generated content. The virtual concert will be available on Roblox’s platform on March 25, at 4 p.m. Pacific time. Well, this is just another sign that brands and artists are drawn to the company’s platform. Thus, do you consider RBLX stock a top metaverse stock to watch today? 

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