July Update: Metaverse Stocks Index Up 11%; Still -40% YTD

Stock, Trading, Monitor, Business

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The metaverse is a virtual reality world (read What Is the Metaverse? How Is It Intended To Work?) where you can go to work, go to school, browse store shelves, play games, watch concerts, and many other things without leaving your (physical) home. It encompasses technologies like augmented reality, virtual reality, artificial intelligence, procedural image generation, cryptocurrencies and non-fungible tokens (NFTs) among a huge number of other developments.

According to a new market research report by Fortune Business Insights, the global metaverse market is projected to grow from $100.27 billion in 2022 to $1.527 trillion by 2029, representing a compound annual growth rate (CAGR) of 47.6% during that period. The report outlines several important factors that are expected to drive the growth of the metaverse industry, including rapidly growing online e-commerce and gaming markets, as well as the emergence and growth of blockchain technology.

The munKNEE Metaverse Stocks Index

Our Metaverse Stocks Index tracks the stock performance of the 10 best metaverse stocks to buy in 2022, according to Elliott Wave Forecast. Below is an update of their performances in July, in descending order, along with their YTD numbers.

  1. Autodesk Inc. (ADSK): UP 24.4% in July; -23.1% YTD
    • is offering a suite of technologies for rendering 3D animation, building and launching virtual buildings, and creating within virtual reality and augmented reality environments.
  2. Roblox Corp. (RBLX): UP 22.4% in July; -58.4% YTD
    • is creating a platform for immersive co-experiences where people can come together within millions of 3D experiences to create their own “worlds” where they can interact and play with others over the internet.
  3. Matterport Inc. (MTTR): UP 17.4% in July; -79.4% YTD 
    • is providing 3D cameras which bring depth to an image and 360 cameras which bring multiple angles on an app to capture these images on your smartphone as well as software that pulls this all together into one digital twin of the space, and applications to layer on augmented reality features.
  4. Cloudflare Inc. (NET): UP 9.6% in July; -61.7% YTD
    • is providing the underlying networking and data services required to make the metaverse a reality by using a software-defined networking model that replaces networking hardware such as routers, switches, and load balancers with far cheaper and more scalable software.
  5. Microsoft Corp. (MSFT): UP 7.9% in July; -16.4% YTD
    • is enabling shared experiences from anywhere through mixed reality applications.
  6. Take-Two Interactive (TTWO): UP 6.3% in July; -25.3% YTD
    • is generating more revenue from metaverse technology than any of its competition.
  7. Match Group Inc. (MTCH): UP 2.5% in July; -44.6% YTD
    • is expanding its matchmaking efforts into the virtual realm by integrating avatar-based virtual experiences into its portfolio of mobile applications.
  8. Unity Software Inc. (U): DOWN 0.4% in July; -73.9% YTD
    • is the leading platform for creating and operating interactive, real-time 3D content, giving creators the power to build complex, data-oriented apps using its Mixed and Augmented Reality Studio tool.
  9. Meta Platforms Inc. (FB): DOWN 0.6% in July; -52.7% YTD
    • is investing billions to create software and content for augmented reality and virtual reality applications, allowing it to address multiple metaverse angles.
  10. NVIDA Corp. (NVDA): DOWN 25.1% in July; -38.2% YTD
    • is producing graphics and video processing chips for artificial intelligence and high-end computing and its products play an integral role in powering the metaverse.

The munKNEE Metaverse Stocks Index went UP 11.4% in July and is now DOWN 39.7% YTD. 

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