Image source: Pixabay
 

According to a new market research report by Fortune Business Insights, the global metaverse market (read What Is the Metaverse? How Is It Intended To Work?) 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 driven by rapidly growing online e-commerce and gaming markets, as well as the emergence and growth of blockchain technology.

The munKNEE Metaverse Stocks Index tracks the stock performance of the 10 best metaverse stocks to buy in 2022, according to Elliott Wave Forecast, and below is how its constituents performed last week, in descending order, and how they have trended over the past 5 weeks (i.e., end of June):
 

Constituents That Advanced In Excess Of 5%

1. Unity Software Inc. (U): UP 21.7% this past week; UP 55.8% since the end of June
   • 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.
2. Matterport Inc. (MTTR): UP 20.5% this past week; UP 67.4% since the end of June 
   • 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.
3. Meta Platforms Inc. (FB): UP 8.0% this past week; UP 12.8% since the end of June
   • is investing billions to create software and content for augmented reality and virtual reality applications, allowing it to address multiple metaverse angles.
4. Autodesk Inc. (ADSK): UP 5.1% this past week; UP 34.0% since the end of June
   • is offering a suite of technologies for rendering 3D animation, building and launching virtual buildings, and creating within virtual reality and augmented reality environments.
      

Additional Constituents That Advanced Last Week

1. Cloudflare Inc. (NET): UP 4.6% this past week; UP 69.1% since the end of June
   • 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.
2. Roblox Corp. (RBLX): UP 3.9% this past week; UP 45.9% since the end of June
   • 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. Microsoft Corp. (MSFT): UP 7.2% this past week; UP 12.5% since the end of June
   • is enabling shared experiences from anywhere through mixed reality applications.
4. Match Group Inc. (MTCH): UP 0.3% this past week; DOWN 4.9% since the end of June
   • is expanding its matchmaking efforts into the virtual realm by integrating avatar-based virtual experiences into its portfolio of mobile applications.
      

Constituents That Declined Last Week

1. Nvidia Corp. (NVDA): DOWN 1.5% this past week; UP 28.8% since the end of June
   • 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.
2. Take-Two Interactive (TTWO): DOWN 3.2% this past week; UP DOWN 1.4% since the end of June
   • is generating more revenue from metaverse technology than any of its competition.

The munKNEE Metaverse Stocks Index went UP 3.6% last week and is now UP 20.8% in the last 5 weeks but it is still DOWN 34.7% YTD.

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