If you’ve been reading the news lately, chances are, you’ve come across metaverse companies in the stock market. For those unfamiliar, the metaverse is a culmination of various cutting-edge technologies wrapped into its own digital universe. In essence, it will allow people to engage with content, interact with each other, and experience almost anything. With that being said, the potential implications of the metaverse are tremendous.
Take Verizon Communications (NYSE: VZ) and Vuzix (NASDAQ: VUZI) for example. The duo are working together to deliver an augmented reality (AR) experience in the sports and gaming arena. Meanwhile, Apple (NASDAQ: AAPL), is rumoured to be working on an AR headset that could be launched in 2023, according to TF International Securities analyst Ming-Chi Kuo. Hence, it could be said that these tech companies are preparing themselves to enter the up-and-coming metaverse market. All in all, here are 5 top metaverse stocks to keep an eye on in the stock market today.
Best Metaverse Stocks To Watch Right Now
- Matterport Inc. (NASDAQ: MTTR)
- Unity Software Inc. (NYSE: U)
- Samsung Electronics (OTCMKTS: SSNLF)
- Nvidia Corporation (NASDAQ: NVDA)
- Meta Platforms (NASDAQ: FB)
Matterport Inc.
First up, we have Matterport, a company that has significantly benefited from the metaverse gold rush. Matterport is a company that focuses on digitizing and indexing the built world. In theory, it seeks to recreate a digital twin of any type of space. Digital twins refer to a digital copy of a real-world place or object. In other words, Matterport dabbles in virtual reality (VR) and can use its tech in creating in the metaverse. MTTR stock currently trades at $15.56 as of 11:21 a.m. ET.
Yesterday, Matterport announced the completion of its acquisition of Enview Inc. In brief, the company is a pioneer in scalable, artificial intelligence (AI) for 3D spatial data. By deploying its 3D AI platform at a nation-scale, Enview solves various challenges. The acquisition allows for Matterport to utilize Enview’s technology to accelerate the development of its next-generation spatial data analytics platform. Ultimately, this optimizes the operations of any physical space, whilst providing powerful insights and building intelligence. With that being said, would you watch MTTR stock?
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Unity Software Inc.
Second, we have Unity Software, a company familiar to gaming enthusiasts. For the most part, Unity is the world’s leading platform for creating and operating interactive, real-time 3D content. The content made with Unity is in real-time, allowing it to adapt to the user’s feedback and behaviour. Currently, U stock trades for $119.40 as of 11:21 a.m. ET.
Yesterday, at CES, which is one of the most anticipated tech events, Hyundai Motor Company and Unity announced a partnership. The two are joining forces to design and build a new metaverse roadmap and platform for Meta-Factory. Subsequently, Unity will help realize Hyundai’s vision of becoming the first mobility innovator to build a Meta-Factory concept. In other words, it is the digital twin of an actual Hyundai factory on the metaverse platform. By doing so, Hyundai would be able to test-run a virtual factor to calculate the optimized plant operation. Accordingly, plant managers would be able to solve problems without physically visiting the plant. Given this practical use of the metaverse, would you consider buying U stock?
Samsung Electronics
Next on our list is Samsung Electronics. The Korean company mainly engages in the manufacturing and distribution of electronic products. The company operates its business through three core segments. The first segment is its IT & mobile communications segment that manufactures computers and handheld phones. Second, is the device solutions segment, which provides semiconductor and display parts, among others. Third, is the consumer electronics segment, which manufactures TVs, monitors, printers, refrigerators, and more.
As of yesterday, Samsung seems to be making its first venture into the metaverse. In detail, the company debuted Samsung 837X, a virtual world modeled after the physical Samsung 837 flagship store in New York. The world debuts in Decentraland, a blockchain-powered metaverse, and is one of the largest brand land takeovers in Decentraland.
Additionally, throughout the year, Samsung plans to bring the experience to more people by launching a multiverse approach on new platforms. Seeing Samsung’s plans for the metaverse, does SSNLF stock deserve a spot in your watchlist?
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Nvidia Corporation
Fourth, we have Nvidia Corporation, a company that has been among the favorites of investors looking for the best semiconductor stocks to buy. Also, Nvidia mainly produces graphics and video processing chips for high-end computing and AI applications. As such, this makes it a powerful figure in the metaverse industry as their chips could play a crucial role in supporting the development of the metaverse. As it stands, NVDA stock currently trades at $273.02 as of 11:21 a.m. ET.
In November, Nvidia announced its latest open platform called the Omniverse. In brief, the Nvidia Omniverse is a real-time 3D design collaboration and virtual studio platform. This enables creators to make their 3D designs and games at very high speeds. Moreover, it has a wide range of applications such as real-world architecture simulation and robot training tools to name a few. Notably, earlier this week, Nvidia announced the free availability of Omniverse to millions of creators and artists globally. With Nvidia turning towards creators to grow its metaverse offering, could NVDA stock be a top metaverse stock to buy?
Meta Platforms
Finally, we will be taking a look at Meta Platforms. As the name suggests, the company is shifting its focus heavily towards developing the metaverse. Just last year, as it announced its rebranding from Facebook to Meta, the company also announced that it would be investing $10 billion into the metaverse. At the same time, the company boasts a portfolio of social media companies used by billions around the world. Namely, Facebook, Instagram, and WhatsApp. Meta also owns Oculus, a company that produces VR headsets, facilitating entry into the metaverse. As of 11:22 a.m. ET, FB stock trades at $331.38.
Yesterday, Meta Platforms stock made its biggest increase since July. This is likely thanks to a rosy update from analysts over at UBS (NYSE: UBS). To highlight, the firm is boosting its price target on FB stock from $425 to $440, citing meaningful upgrades to Instagram. A revamped news feed on Instagram has the “potential to provide a meaningful product cycle catalyst for shares,” says analyst Lloyd Walmsley.
Moreover, this was a change that was highly requested by its user-base for ages, ever since it was removed in 2016. Seeing that Meta has such a huge hand in the social media realm, could it push its user to adopt the metaverse? And on that note, would you be keeping an eye on FB stock?
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