The Metaverse may be a new phenomenon and a wholly new space but most experts believe that its era is coming in the near future. Hence, it is necessary for investors to keep track of this space and perhaps choose to have some exposure. There are many companies that are now making a move into that space and there are some companies that end up creating fortunes for investors if everything goes right. Here is a look at three such stocks.
The first one to look into could be the Unity Software stock. The Metaverse can only become a thing with realistic graphics and that is where the unique products and services of Unity Software come into play. The company is well known for its 3D Animation Software that can help in creating life like characters.
Last month, Unity completed the acquisition of Weta Digital for the purpose of getting into the Metaverse space in a big way. Weta is involved in 3D creation, simulation and rendering among others. In the third fiscal quarter, the company’s revenues soared by 43% year on year.
The next one to look into is the online dating platform operator Match Group, which owns platforms like Hinge and Tinder. While the online dating business has grown, the company’s Chief Executive Officer, Shah Dubey, stated during its third quarter conference call that it had started testing a new product called Shingletown.
It could allow individuals to have conversations in real-life settings and if the product does become successful then it could well become a major hit in the online dating space. On the other hand, growth has been consistently impressive and in the third quarter revenues crossed $800 million, thereby recording a jump of as much as 25% year on year.
Last but certainly not least, it is Autodesk that ought to be on your watch lists if you are looking into Metaverse stocks. The company’s main products help professionals in designing buildings and other products through visualization tools. Hence, the Metaverse aspect in its business is clear to see.
More importantly, the decision from Autodesk a few years ago to move to a subscription model has helped in revenues going up considerably. In the third quarter, the company’s revenues went up by as much as 18% to eventually hit $1.12 billion and subscription revenues made up 95% of that.