5 Huge Companies That Recently Entered The Metaverse

The metaverse has the potential to eclipse the internet. A “place” where real life, and virtual reality are blended into one.

At its core, the metaverse seeks to accomplish much of what the internet already does, but would include avatars that can interact and move within the space. More than that, it would have an economy unto itself.

A lot of large companies are betting on this, with their own entries into the metaverse. In fact, Bloomberg estimates the market size for the metaverse could reach $800 billion by 2024.

We’ve gathered five of the largest companies that investors can get behind while the metaverse is built out.

See Also: How To Invest in the Metaverse

Facebook, now known as Meta Platforms FB is building the metaverse by way of VR Goggles, smart glasses and augmented reality. Its website notes “the metaverse will be a collective project that goes beyond a single company. It will be created by people all over the world, and open to everyone.”

Market cap: $565 billion

Roblox RBLX: This company is unique in that Roblox is not just a single game. Developers each month add new games to the platform, and creators have incentives to build more content for the platform since they earn money if their games become hits.

Roblox offers 25% of a game’s earnings through its developer exchange program. The Roblox platform has more than 40 million games, 9.5 million developers and, as of the third quarter, 47.3 million average daily active users.

Market cap: $32 billion

Nike NKE: The top footwear brand is experimenting with metaverse technology in collaboration with Roblox. "Nikeland" is defined as a free space to explore games. Players will get a chance to try new sports shoes, and run marathons in the virtual world. The Nike virtual world will also have some digital avatars and people who will win the competitions in the Nike world will get rewarded with “blue bands.”

Market cap: $225 billion

Nvidia NVDA is seeking to turn its leading position in supplying the computing hardware for the metaverse into a set of software tools for creating and selling content within virtual worlds, a business opportunity that has helped Nvidia shares more than double in value over the last year.

Market cap: $612 billion

Adidas ADDYY recently entered the metaverse via an NFT collection simply titled “Into the Metaverse” in which it featured a limited collection of collaborative NFTs. The collection has since sold out. Each NFT acts as an early access pass to physical products throughout 2022.

Market cap: 44B EURO