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Monday, November 22, 2021 1:34:14 PM
By: Hassan Maishera | November 22, 2021
• Facebook remains the leader in the metaverse space, but MANA and SAND are performing excellently.
Social media giant Facebook (now known as Meta) is the leading company in the metaverse space since its entry a few weeks ago.
Meta is the Ideal Stock to Gain Exposure to the Metaverse
An analyst at Morgan Stanley, Brian Nowak, has pointed out that Meta is the ideal stock to gain exposure to the metaverse space. This latest development comes a few weeks after the social media giant rebranded to Meta.
According to the analyst, the digital asset space would be worth over $8 trillion over the coming years, and the metaverse sector would play a huge role in the growth of the market. Nowak stated that any success Meta has in building and monetizing the metaverse is a huge plus for the company and would be another layer-cake of multi-year monetization.
In addition to Meta, the analyst said he favors a few other companies in the metaverse space, including Roblox, Alphabet (Google’s parent company), Snap, and Unity Software. However, he warned that the adoption of metaverse wouldn’t be easy, and it would take a long time to reach the necessary growth.
Morgan Stanley said although the metaverse has the potential to grow digital payments volumes, it believes the revenue opportunity is smaller and will occur over the long term due to the uncertain regulatory nature of the broader cryptocurrency market.
FB stock chart. Source: FXEMPIRE
Metaverse Coins Have Been Rallying
The past few weeks have seen numerous metaverse-focused tokens and coins rally to new all-time highs. MANA, the native coin of the Decentraland platform, has rallied by more than 5,000% since the start of the year and is trading close to the $4 mark.
Another metaverse-focused cryptocurrency that has been performing excellently is SAND. The native coin of The Sandbox platform is closing in on the $5 mark after the launch of its Metaverse Alpha last week. The metaverse-focused coins would rally higher in the coming weeks as more investors enter the space and it grows bigger.
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