Facebook changed its name to Meta Platforms Inc. (Meta) and then announced its partnership with up and coming computing & graphics company Advanced Micro Devices (AMD). Meta’s name change comes in the wake of whistleblower claims that negatively impacted the stock’s price during September and October – falling from an all-time high of $384.33 in September to $312.22 near the end of October.
However, Meta’s rebranding and announcement to lead the way into the Metaverse spurred the stock to recent gains by climbing back to $339.11 at the time of this article. The creation of the Metaverse is headed by Andrew Bosworth (“Box”), who is currently the Head of Meta’s Reality Labs (you can head to his instagram “boztank” to see his videos of beta testing the Metaverse).
In addition to Meta being at the helm of augmented and virtual reality, there are other companies actively engaged in making the virtual world a reality. Including the following:
– Unity Software (symbol: U). Unity is a technology company offering a leading platform for creating and operating interactive, real-time 2D and 3D content. This is used for several applications, such as mobile gaming or filmmaking, but also for augmented and virtual reality devices (AR/VR).The company was founded in 2004 and has only been listed since last year, while its current market value is about $38 billion.
– Fastly Inc. (symbol: FSLY). Fastly operates an edge computing infrastructure-as-a-service (IaaS) platform that brings servers and other equipment to the source of data creation. Basically, it helps reduce the lag time and latency of decentralization. Revenue growth at Fastly has been swift since its launch about a decade ago, with revenues growing 14% year-over-year. Like cloud computing, the Metaverse will need plenty of edge computing solutions to make it happen. Think about the sheer amount of data transfer needed to create a virtual world in real time that users will be able to interact with.
– Roblox Corp. (symbol: RBLX). Roblox has already created the base for the Metaverse within its game. In the company’s recent earnings call with analysts, Roblox CEO Dave Baszucki mentioned that the firm’s platform “welcomes six-year olds and, at the same time, welcomes 30-year olds.” Ultimately, Roblox sees its platform as a virtual place where these immersive experiences, like concerts, are “going on all the time, just as play is going on all the time right now,” Baszucki said. With 43.2 million daily users, Roblox is ready for the Metaverse to expand.
If you want to know more about companies ready to play in the Metaverse, then check out the Roundhill Ball Metaverse ETF (symbol: META). This is not financial advice, just my opinion based on the research I have done.