Metaverse Stocks Are At The Top Of The Watch List For Investors Right Now
Earlier this quarter, we put together a list of metaverse stocks to watch. This came during the advent of a new “gold rush” in the stock market. In it, we broke down different niches within the industry. We also discussed how early this idea still is right now.
While the metaverse isn’t a new concept, the broad and sweeping adoption for its future potential is. Talking strictly from an investment standpoint, the metaverse is a culmination of different cutting-edge technologies wrapped into its own virtual universe. In this case, the metaverse represents a way for individuals to engage with others in similar and different ways than in real life.
With this as the backdrop for where virtual and augmented reality could be heading, metaverse stocks and, in turn, metaverse penny stocks have become a more significant focus in the stock market today. Despite the sell-off in growth assets last week, the first full week of December has seen somewhat of an about-face for risk-on traders.
With cryptocurrencies like Bitcoin and Ethereum beginning to recover, hot topics like NFTs and virtual landscapes have come into the spotlight. Today we’ll take a look at a few metaverse stocks that could be on watch lists heading into the end of the year.
Metaverse Penny Stocks To Watch
Alpha Esports Tech Inc. (OTC: APETF) (CSE: ALPA)
This list of penny stocks has several companies that have direct and indirect exposure to the metaverse. If you’ve been looking into this new industry, you’re probably familiar with how esports has played a leading role early on. Companies like Alpha Esports have gained some recent interest from the market during the last few weeks. Case in point, while most of the market was pulling back last week, APETF stock, in particular, traded in a relatively tight range between $0.18 and $0.23.
Alpha is an esports company that operates its GamerzArena platform at the heart of its model. Since going public earlier this year, the company has established substantial partnerships and working relationships with various organizations. These include institutions like Notre Dame, Syracuse University, and Penn State.
Alpha has also established relationships with The New Jersey Devils, The Vancouver Whitecaps, Barstool Sports, and ESPN Radio, among others. This quarter, Alpha added to this growing list. That came via deals with a subsidiary of Esports Entertainment Group (NASDAQ: GMBL), EEG labs. The pair will develop a new vision tech system for GamerzArena participants. Alpha also added adult and iGaming to its portfolio via acquiring Heavy Chips Casino and Sports Betting.
Alpha Enters The Metaverse
However, one of the most recent developments has put a direct spotlight on Alpha and its involvement in the metaverse. Late last month, the company announced that it would provide augmented-reality-based experiences to blend real-world and metaverse ecosystems. Specifically, Alpha plans to achieve this via its Paradise City Gaming subsidiary.
“Alpha has always been a pioneer of new technologies and we continue to show our commitment by integrating the Metaverse within our business model…We believe esports and mobile gaming will be one of the first integrations into the Metaverse and it is important to stay ahead of the competition. Paradise City will continue to work on Metaverse technologies and integrations within the Alpha ecosystem, including products which drive user engagement and monetization for the Company.”
Interim CEO of Alpha, Matthew Schmidt
With a stronger focus on metaverse stocks, this news puts Alpha on the growing list of stocks to watch.
Meta Materials Inc. (NASDAQ: MMAT)
Take a look at the Roundhill Ball Metaverse ETF (NYSE: META), and you’ll see that despite its popularity, metaverse stocks have come under some pressure recently. However, December 6 saw a heavy level of bullish momentum late in the session. Similarly, shares of Meta Materials have also mimicked this trend.
Where Does MMAT Stock Fall Into The Metaverse?
Companies like Alpha fit the mold for their application in the virtual world. On the other hand, Meta Materials has more of an application when it comes to hardware. The company’s ARfusion for Smart Augmented Reality Eyewear, for example, provides wearable AR technology in a lightweight format such as glasses.
Commenting more on this topic ahead of its participation at the AWE USA, George Palikaras, President and CEO, explained, “We are excited to showcase a range of practical applications that may be embedded into prescription lenses for AR eyewear…In collaboration with Covestro, we are able to offer, in a one-stop-shop, highly functional advanced materials and proprietary equipment for high-volume production.”
Obviously, things continue evolving for Meta Materials. With software, hardware, and web-based platforms all coming together, MMAT has found itself grabbing a piece of the spotlight when it comes to metaverse stocks.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT)
Another one of the metaverse penny stocks gaining momentum this week is Blue Hat Interactive. Like MMAT, BHAT stock had also come under pressure over the last few weeks. It has since pulled an about-face to start this week. The company provides data center capabilities and develops mobile games & augmented reality education platforms and products. AR and online gaming are quickly becoming a “go-to” for metaverse stocks to watch.
This week Blue Hat announced its Q3 results, which included a big update on revenue growth for the company. In particular, revenue growth during the quarter and nine months time frame jumped to $13.3 million. This was up more than 230% compared to the same period last year. At that time, the company only recorded $4 million in revenue. Furthermore, gross profit jumped over 90% compared to the period last year. This jump was attributed to its IDC business supported by mobile gaming and IT services offerings.
“We continue to build an interactive entertainment platform including mobile games, augmented reality toys, and a fully immersive education curriculum. We are pleased with the improved results on the bottom line during Third Quarter 2021 as we have continued to integrate these businesses into Blue Hat’s operations,” explained CEO Xiaodong Chen.
As AR, VR, cloud services, and other tech gets wrapped into the list of metaverse topics, BHAT has begun gaining some attention.
Metaverse Stocks To Watch
This is just a short list of metaverse stocks to watch right now. As discussed in the article about 101 Ways To Invest In The Metaverse, this industry will continue evolving. Furthermore, we’re likely to see some unassuming companies falling into this category. Nike and Adidas, for example, have both recently launched metaverse projects. With plenty of speculative attention on this trend, we’ll continue updating on metaverse stocks to watch right now.
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