At this point in time, the cryptocurrency and metaverse industries are regarded as two of the more exciting industries by many experts, and for a good reason too. Considering the sheer long-term potential of these two industries, it may not actually be a good idea for investors to be totally out of the loop with these new industries.
Some of the biggest tech firms in the world are now involved in these spaces and could drive significant value in the long term. Here is a look at three companies that you could add to your watch lists if you are interested in the crypto and metaverse sectors.
Meta Platforms Inc (NASDAQ:META)
The first one to make it to the list is social networking giant Facebook’s parent company, Meta. The company has invested heavily in the metaverse and gone into virtual reality in a big way. If the sector does eventually take off then in the long term Meta could be one of the biggest beneficiaries. That being said, the company’s Reality Labs business is currently a heavily loss-making operation.
In 2021, the losses stood at $10.2 billion and in the first half of this year, the losses had been pegged at $5.8 billion. Changes in Apple’s privacy policy had also cost Meta billions and there is no cogent response yet from the company. If that revenue gap can be plugged then things could well change for the long term.
Microsoft (NASDAQ:MSFT)
Another tech giant which has made significant strides into the metaverse space is Microsoft. For instance, the company now has a contract in place with the United States Army for the manufacturing of Hololens headsets.
On the other hand, it has also come up with an operating system named Mesh, which is regarded as one of the leading operating systems in the XR space. With military contracts in place and a major operating system in tow, Microsoft could well be one of the more important players in the industry in the long term.
Riot Blockchain Inc (NASDAQ:RIOT)
Last but not the least, it is the Riot Blockchain Inc stock that may be of interest to anyone who is interested in the crypto mining space. It is the biggest miner in the industry and on top of that, the company has also worked on pivoting to ‘greener’ ways of mining.
The stock has had a wild ride since the demand for cryptocurrencies went up and crashed. However, if there is a return of high demand for cryptocurrencies then Riot Blockchain could well be a company that may reap the rewards in the long run.
