Going Meta: The 5 Best Metaverse Stocks to Buy in 2023

For some investors, the recent stock market volatility we’ve seen is just too much to bear (get it?)—so they panic sell. On the other side of the terminal, you’ve got smart money buying up stocks for 50% off like the market’s having a Black Friday sale.  

Now, these stocks may not recover in the next week or month, but buying early movers in a growing sector could lead to enormous gains. And I can’t think of too many sectors that are going to outperform the metaverse’s $1 trillion market over the coming decade.

 So if you’ve got the desire to cash in on the metaverse, coupled with a long-term horizon, I’ll show you the best metaverse stocks to buy in 2023.

First, let’s get some terminology out of the way.

By this point, you probably already know what the metaverse is. But in case you’re unsure, the metaverse is defined as an immersive 3D virtual space for business, social networking, gaming and trading. 

The full potential of the metaverse has yet to be realized, which is why tech companies are racing to claim their share of this emerging market. And while these metaverse plays could take a decade or more to pay off, this also means that today’s early investors stand to reap most of the future rewards. 

But how can retail investors gain exposure to the metaverse right now? Outside of buying metaverse tokens, you could also invest in metaverse stocks. Metaverse stocks are companies that are either dedicated to building the metaverse or developing products that indirectly benefit the metaverse. 

Examples of metaverse-related hardware and software products include:

• Virtual reality (VR), augmented reality (AR) and telepresence systems 
• Game engines and 3D modeling software
• Virtual worlds and massively multiplayer online games
• Computer components, including graphics processors and semiconductors
• Cloud storage and networking solutions 

And the list goes on. With so many sectors to choose from, you can bet your bottom dollar there’s a metaverse stock out there for your unique investor profile.

Let’s take a look at some of the public companies best positioned to profit off the metaverse.

NASDAQ: FB

Market Cap: $626.25 billion

Sectors: Virtual reality, Telepresence

Meta Platforms is in large part responsible for the resurgence of interest in virtual reality. This past October, Mark Zuckerberg demonstrated just how bullish he is on the metaverse by re-branding his entire company (formerly known as Facebook) and pledging $10 billion to metaverse development. 

So far, Meta has released the Oculus VR headset and Horizon Workrooms in addition to unveiling their Ray-Ban Stories smartglasses. While Meta ultimately wants to have a finger in every pie of the metaverse ecosystem, they do seem more focused on offering non-gaming experiences like education and commerce—which makes sense since they already have access to billions of social networking users. 

Behind the scenes, they’ve already filed patents for everything from virtual goods stores and avatar personalization engines to biometric advertising systems.

NASDAQ: MSFT

Market Cap: $2.31 trillion

Sectors: Augmented reality, Telepresence, Gaming, Cloud computing

Microsoft has become the second most valuable company in the world largely based on the popularity of its Windows operating system. But after losing the browser wars and missing the smartphone revolution, Microsoft executives are hell-bent on riding the metaverse wave. 

To that end Microsoft has released Mesh, a platform that brings together all their metaverse-related products like HoloLens, Teams and AltSpaceVR. Microsoft has also been transforming itself into a gaming juggernaut, recently announcing its intention to acquire  Activision Blizzard Inc. for $69 billion. For context, Activision has nearly 400 million monthly active users across major IPs like Call of Duty, Guitar Hero, World of Warcraft, and Candy Crush Saga.

Finally, Microsoft’s Azure cloud computing service also gives it a major advantage when it comes to scaling metaverse products for other businesses as well as themselves.

NASDAQ: NVDA

Market Cap: $660.47B

Sectors: Graphics cards, 3D modeling and simulation

Nvidia’s bread-and-butter business is producing graphics processing units (GPUs), which are used in devices like supercomputers to run simulations, gaming consoles to render visuals, and autonomous vehicles to train artificial intelligence. Given that the metaverse incorporates all of these use cases, Nvidia chips are primed to play a large role in its development. 

One particularly juicy area for Nvidia will be computer simulation. Nvidia CEO Jensen Haung told CNBC that the metaverse will allow companies to save billions by simulating factories, plants and power grids so they can reduce operational waste. The NVIDIA Omniverse Platform was built for this very reason and already boasts over 50,000 users.

NYSE: RBLX

Market Cap: $39.53 billion

Sectors: Virtual worlds, 3D modeling

Roblox is a platform where users can play and develop games as well as buy virtual goods with the in-game currency Robux. With these key features, Roblox is considered one of the best metaverse prototypes available today. 

During the 2020 COVID-19 lockdowns, Roblox exploded in popularity as more people (mostly kids) began to use the platform to stay in touch with their friends. As of 2021, Roblox has 202 million monthly active users—rivaling household names like Minecraft and Fortnite. 

Roblox is also known for bringing traditional brands into the virtual world, like the 100th anniversary Gucci Garden exhibition and the Lil Nas X virtual concerts that attracted over 33 million viewers.

NASDAQ: MTTR

Market Cap: $2.26 billion

Sectors: 3D scanning

Matterport is the smallest company on this list, but it could end up becoming one of the most critical players in the metaverse. Think about it: if we’re to recreate the physical world in a 3D virtual environment, then Matterport’s cameras are the best tool for the job. 

Their digital twin technology is already being used across the real estate, retail, hospitality and construction industries, with one of the most compelling use cases being 3D virtual tours for home buyers. 

While most metaverse companies are competing to create the best headset, games or computer chips, Matterport is already the undisputed king of spatial data with over 250 thousand subscribers and growing.