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10 Best Metaverse Stocks in Canada 2023

If you have questions about what the Metaverse is, you’re not alone. While it is still a new concept in its early stages right now, it is gearing up to be the next big step forward for many technology companies

The Metaverse will be looking to combine technologies like blockchain networks, cryptocurrencies, and virtual reality into a new immersive experience.

The Metaverse will be a digital online world where users can interact with each other through the use of virtual reality equipment.

There are several industries that are gearing up to be a major part of the Metaverse. These include digital payments, gaming, and eCommerce.

In this article, we will take a look at the 10 best Metaverse stocks for Canadian investors to consider. We will cover some key facts, what the company does, and why they will be impactful in the Metaverse.

What is a Metaverse Stock?

Metaverse stocks are publicly traded companies that will have a large part in the future of the Metaverse.

They are mostly tech companies. Many of them trade on the NASDAQ although there are some Metaverse stocks on the TSX as well.

The top Metaverse stocks are all recognizable companies that are leaders in their respective sectors.

Here is the list of the best Metaverse stocks to invest in right now: 

  • Meta Platforms (NASDAQ:FB)
  • Roblox (NYSE:RBLX)
  • NVIDIA (NASDAQ:NVDA)
  • Microsoft (NASDAQ:MSFT)
  • Autodesk (NASDAQ:ADSK)
  • Intel (NASDAQ:INTC)
  • Electronic Arts (NASDAQ:EA)
  • AMD (NASDAQ:AMD)
  • Unity Software (NYSE:U)
  • Shopify (NYSE:SHOP)

Note: all the facts and figures are as of May 2022.

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Top 10 Metaverse Stocks To Consider

Meta Platforms (NASDAQ:FB)

Key Facts for Meta Platforms:

  • Market Cap: $551 billion
  • 52-week Trading Range: $169.00 – $384.33
  • PE Ratio: 15.4
  • Sector: Social Media

Meta Platforms is the company that is usually most associated with the Metaverse. After all, the company did change its name and branding from Facebook to Meta Platforms late last year.

Meta is a controversial company that often generates media attention due to privacy issues related to its Facebook and Instagram social media platforms. The company also owns Oculus VR and the Whatsapp messaging platform.

Meta is attempting to focus its efforts on developing the new Metaverse. It is leveraging its social media ecosystems as well as the Oculus VR hardware.

Meta CEO Mark Zuckerberg is one of the first big tech CEOs to begin discussing the Metaverse.

Meta’s stock saw the largest single-session decline in the history of the stock market following its 2021 Q4 earnings. The company lost $230 billion off of its market cap.

Of 36 analysts that cover Meta’s stock, 26 of them have a buy rating with a median price target of $289.33.

Roblox (NYSE:RBLX)

Key Facts for Roblox:

  • Market Cap: $16 billion
  • 52-week Trading Range: $27.33 – $141.60
  • PE Ratio: 70.9
  • Sector: Metaverse gaming

Roblox was a very publicized IPO when the stock went public back in March of 2021.

Roblox is a virtual Metaverse gaming environment. Users can create their own games and fully immersive and interactive environments. While everyday people create the majority of the maps within Roblox, large companies such as Nike have also started to explore what a virtual store would look like within the game.

The Roblox game is a downloadable app for Android, iOS, and Windows and has a web-based browser version.

As of the fourth quarter of 2021, Roblox had nearly 50 million daily active users, many of which are between the ages of 9 and 16. 

Roblox has seen its performance suffer as the COVID-19 pandemic restrictions have eased. The stock has also been beaten down by the ongoing stock market correction in 2022.

NVIDIA (NASDAQ:NVDA)

Key Facts for NVIDIA:

  • Market Cap: $465 billion
  • 52-week Trading Range: $134.59 – $346.47
  • PE Ratio: 48.5
  • Sector: Semiconductors, GPUs, gaming, artificial intelligence, data centers

NVIDIA is the largest chip design company by market cap. It is seen as an industry leader in many different sectors including chips, artificial intelligence, and GPUs.

NVIDIA also has its own version of the Metaverse in development called the Omniverse platform.

In the Omniverse, developers will be able to build apps and technology for the Metaverse in a collaborative environment.

NVIDIA is aiming to be the provider of software and developer tools for enterprises and content creators alike in the Metaverse.

NVIDIA chips power some of the largest companies in the world including Tesla, Microsoft, Amazon, Meta Platforms, and Alphabet.

Related: Top Metaverse ETFs in Canada.

Microsoft (NASDAQ:MSFT)

Key Facts for Microsoft:

  • Market Cap: $2.05 trillion
  • 52-week Trading Range: $238.07 – $349.67
  • PE Ratio: 28.7
  • Sector: Enterprise software, gaming, cloud solutions

Microsoft is the second-largest publicly traded US company by market cap, trailing only Apple.

Microsoft has several segments of note including its Windows operating system, Xbox gaming, and Azure cloud services.

Microsoft acquired gaming titan Activision-Blizzard last year for a record $68.7 billion.

CEO Satya Nadella has likened the Metaverse to creating games for virtual and digital interaction. This explains Microsoft’s acquisition of Activision-Blizzard.

Microsoft also owns several key Metaverse gaming franchises including Minecraft. It also plans to leverage popular Activision-Blizzard franchises like Call of Duty, Overwatch, and World of Warcraft to move further into this space.

Autodesk (NASDAQ:ADSK)

Some Key Facts for Autodesk:

  • Market Cap: $42.15 billion
  • 52-week Trading Range: $180.19 – $344.39
  • PE Ratio: 86.5
  • Sector: SaaS

Autodesk is an American multinational software company that creates software products for sectors like architecture, design, and engineering.

Autodesk’s software is already operating in Metaverses as it allows users to design virtual architecture and environments.

Some of Autodesk’s more well-known programs include AutoCAD, Autodesk Inventor, and Fusion 360.

These software applications are built for the Metaverse and Autodesk is hoping to be a leader in designing the environment and interactions of the Metaverse.

Intel Corp (NASDAQ:INTC)

Key Facts for Intel:

  • Market Cap: $181.14 billion
  • 52-week Trading Range: $43.50 – $58.42
  • PE Ratio: 7.4
  • Sector: Semiconductors and chip design

Intel is one of the world’s largest semiconductor companies by revenue. It designs and produces CPUs that power a large number of personal computers.

Intel creates chips for companies like HP, Lenovo, and Dell. It also used to be the supplier for Apple computers before Apple took its chip manufacturing in-house.

Intel’s chips are at the heart of most tech sectors including computing, AR/VR, data centers, and cloud computing.

These will all play a significant role in establishing and powering the environments in the Metaverse.

Electronic Arts (NASDAQ:EA)

Key Facts for Electronic Arts:

  • Market Cap: $32.4 billion
  • 52-week Trading Range: $114.39 – $148.93
  • PE Ratio: 51.82
  • Sector: Gaming

Electronic Arts is one of the largest game makers in the world. It is known for its sports franchises like NFL Madden and FIFA, as well as Mass Effect, Battlefield, and The Sims.

Like Microsoft, Electronic Arts believes that the Metaverse will revolve around the gaming industry.

Electronic Arts is introducing a style of gameplay called Metagaming. It has shown teamwork and progression in the upcoming game, Battlefield Hardline.

The company is also looking at play to earn games that involve NFTs and cryptocurrencies.

Related: Top Metaverse Crypto Coins.

AMD (NASDAQ:AMD)

Key Facts for AMD:

  • Market Cap: $154.5 billion
  • 52-week Trading Range: $72.50 – $164.46
  • PE Ratio: 37.10
  • Sector: Semiconductors, chip design

AMD is one of the world’s largest semiconductor companies and is the third chipmaker on this list of top Metaverse stocks.

Like NVIDIA and Intel, AMD’s chips will power the hardware and software that will power the Metaverse.

A common theme on this list of the best Metaverse stocks is gaming, and AMD chips power the next-generation gaming consoles from both Sony and Microsoft.

AMD builds both CPUs and GPUs that are used by the biggest tech companies in the world.

This includes providing 4000 EPYC processors to Meta Platforms’ AI RSC Supercomputer that is building the Metaverse. NVIDIA also has provided 16,000 GPUs for this supercomputer.

Unity Software Inc (NYSE:U)

Key Facts for Unity:

  • Market Cap: $154.5 billion
  • 52-week Trading Range: $72.50 – $164.46
  • PE Ratio: 37.10
  • Sector: Gaming software

Unity Software is one of the largest video game software development companies in the world.

Its Unity engine is used in more than half of all games made for mobile and console. It is the largest rival to the Unreal engine made by Epic Games.

Unity believes over the long term that its Unity engine will be used by developers and content creators to build environments and interactions in the Metaverse.

With gaming driving such a large part of the Metaverse, Unity stands to gain as the world’s leading software provider for game developers.

Shopify (NYSE:SHOP)

Key Facts for Shopfiy:

  • Market Cap: $47.5 billion
  • 52-week Trading Range: $355.13 – $1,762.92
  • PE Ratio: 16.48
  • Sector: eCommerce

Shopify is a Canadian eCommerce platform that provides products and services for online retailers.

Shopify also trades on the Toronto Stock Exchange under the ticker symbol (TSX:SHOP).

Shopify is banking on the Metaverse to create an immersive eCommerce experience for its clients through the use of augmented and virtual reality.

Shopfiy has already introduced an NFT marketplace and ways for content creators to sell NFTs directly through their online store on Shopify’s platform.

How To Invest in Metaverse Stocks in Canada

For Canadian investors who are looking to invest in the Metaverse, there are plenty of brokerages where you can buy these stocks. Here are some of the best:

Wealthsimple Trade

Wealthsimple Trade is a Canadian discount brokerage that offers no-commission trading on stocks and ETFs.  It has a mobile and web-based platform that is highly intuitive and popular amongst younger investors.

Wealthsimple Trade

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Trade stocks and ETFs for free

Great trading platform for beginners

$25 cash bonus when you deposit $200+

Transfer fees waived up to $150

Questrade

Questrade is a Canadian discount brokerage that offers flexible pricing on trades. For as little as $0.01 per share, you can invest in some of the best Metaverse stocks, or you can invest in Metaverse ETFs for no charge on buy orders.

Questrade

questrade logo

Trade stocks, ETFs, options, etc.

Low and competitive trading fees

Top platform for advanced traders

Get $50 trade credit with $1,000 funding

Qtrade

Qtrade is yet another Canadian discount brokerage that provides lower trading fees for Canadian investors. At just $8.75 per stock trade, Qtrade is cheaper than most brokerages that are associated with the big banks. 

Qtrade

qtrade logo 2

Trade stocks, ETFs, options, etc.

Competitive trading fees

Excellent customer service

Deposit $1,000 for a $50 bonus

CIBC Investor’s Edge

CIBC Investor’s Edge is the trading brokerage associated with the CIBC bank.

It offers the cheapest trading fees amongst the big banks at $6.95 per trade and provides trading discounts to students and active traders.

Learn more in this review.

Pros and Cons of Metaverse Stocks

Investing in the Metaverse allows you to get exposure to what many analysts believe will be a market worth at least $1 trillion in the future.

Buying Metaverse stocks means you are investing in some of the largest and most profitable tech companies in the world.

The Metaverse is still in its early days and once it is implemented, Metaverse stocks could soar.

One downside is that if the Metaverse adoption does not take off in the way that they anticipate, the companies could struggle and valuations could drop.

It’s always better to diversify rather than invest all of your money into one sector like the Metaverse.

Are Metaverse Stocks a Good Investment?

The smart money says, probably yes. This list of the top Metaverse stocks includes some of the largest, most successful companies in the world.

All of these companies are on the cutting edge of technology and will be good investments regardless of the Metaverse.

Investing in the Metaverse is investing in a potentially world-changing industry. If it is as successful as most people believe, these companies have the potential for massive growth.

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Author

Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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