Our 3 Top Metaverse Stock Picks for 2023

Our 3 Top Metaverse Stock Picks for 2023

Metaverse Stock Picks for 2023 - Our 3 Top Metaverse Stock Picks for 2023

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Most investors were not familiar with Neal Stephenson’s scientific concept of the ‘metaverse’, and it was seen as nothing more than pure speculation. Today, investing in the metaverse is a hot topic, becoming a rapidly evolving sector with spillover effects across multiple industries. Therefore, with the immense potential of the metaverse, it is no wonder why so many consumers and companies are optimistic about the best metaverse stock picks for 2023.

As reported by McKinsey & Co, the metaverse could be worth a staggering $5 trillion by 2030. Furthermore, the firms also found that more than 50% of consumers are excited about the new virtual world opportunities. With many looking ahead to discover new possibilities within the rapidly evolving landscape of the metaverse, we can be eager with anticipation for what comes next. That said, here are the three best metaverse stock picks you should probably load up on for the coming year.

YOUUnity software$34.27
ADSKAutodesk Inc.$207.78

Nvidia (NVDA)

Nvidia (NVDA) logo and sign on headquarters.  Blurred foreground with green trees

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Nvidia (NASDAQ:NVDA) has a unique opportunity to capitalize on the wealth of the metaverse story with its leadership in a wide variety of technology verticals. Its modern chips and computing power can be integral to the creation, maintenance and continuous improvement of the metaverse. With its expertise, it can effectively accelerate the implementation of the metaverse idea while increasing its massive revenue base.

Additionally, according to Cowen analyst Matthew Ramsay, Nvidia’s metaverse-related sales could reach $10 billion by 2030, highlighting its massive growth runway ahead. Not only that, but according to experts, AI is expected to be a key facilitator for the metaverse. With its design and manufacture of high-performance GPUs, Nvidia has a leadership position in the AI ​​space and offers excellent visualization capabilities.

Furthermore, it launched the Omniverse, a ground-breaking platform that allows users to easily collaborate on projects. This powerful collaboration tool has successfully engaged large numbers of users within a short period of time.

Unity software (YOU)

The Unity Software website is displayed on a laptop screen.

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Unity software (NYSE:YOU) enables the creation of interactive, real-time 3D content, and its tools for virtual reality, augmented reality and gaming provide unparalleled access to the digital realm.

The company has a clear and rich history of supporting 3D game development, making it ideal for the growing trend in the metaverse. Moreover, Unity games attract more than 2.8 billion monthly active users, while the total addressable market reaches an impressive 4 billion MAUs. Unity’s presence in the gaming world is proven by the fact that they serve 61% of all game developers, proving that they are a strong choice to include in anyone’s portfolio.

In an age where companies prioritize the latest technology, Unity Software offers an unbeatable option, one that is sure to expand further as our technological capabilities grow. So, Unity Software is one of the metaverse stock picks for 2023.

Autodesk Inc. (ADSK)

An Autodesk (ADSK) sign on an office in Toronto, Canada.

Source: JHVEPhoto / Shutterstock.com

Autodesk Inc. (NASDAQ:ADSK) has been a top choice for construction and engineering teams for years, with its reliable software tools. Its most popular program, Revit, leads the industry in providing building information modeling (BIM) services, enabling users to visualize their designs. However, that’s not all, as the platform Autodesk goes above and beyond by offering plugins such as Autodesk Rendering. These revolutionary tools can bring designs to a whole new level with VR and AR animations.

Additionally, Autodesk has established itself as a leader in the software-as-a-service industry with its excellent operating performance over the past five years. The company’s impressive gross margin of over 90% demonstrates the quality of its service offerings. With the opportunities for innovation and collaboration, Autodesk has positioned itself to take advantage of the growth in the metaverse sphere.

As of the date of publication, Muslim Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com Publishing Guidelines.

Muslim Farooque is an avid investor and an optimist at heart. A lifelong gamer and technology enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a Bachelor of Science in Applied Accounting from Oxford Brookes University.

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