Then vs Now: How Metaverse Stocks Have Changed Since 2022

Snapshot of 2022: The Original 8 Picks

• Meta Platforms (META) — formerly Facebook, investing heavily in VR and AR hardware and platforms.
• Roblox Corporation (RBLX) — popular virtual world platform for user-generated games and experiences.
• Unity Software (U) — engine powering 3D content creation for games and AR/VR applications.
• Nvidia (NVDA) — GPU leader enabling graphics and AI critical to metaverse tech.
• Microsoft (MSFT) — with its mixed reality ambitions and enterprise metaverse initiatives.
• Snap Inc. (SNAP) — integrating AR features into social media.
• Alphabet (GOOGL) — Google’s investments in AR and AI technology.
• Tencent Holdings (TCEHY) — strong in gaming and virtual worlds, especially in Asia.

Market Reality Check: What Happened Next?

Since 2022, the metaverse sector has matured, with some companies growing rapidly, others pivoting, and new players emerging:

• Meta Platforms (META) doubled down on AI and spatial computing, posting 36% earnings growth in 2025, expanding its Horizon Worlds platform and advancing AR glasses technology.
• Roblox (RBLX) exceeded expectations with strong user growth and revenue in early 2025, solidifying its role as a leading virtual experience platform.
• Unity (U) faced increased competition but remained critical in 3D content creation, expanding into AI-powered development tools.
• Nvidia (NVDA) saw explosive growth fueled by demand for GPUs in AI and gaming, cementing its infrastructure role.
• Microsoft (MSFT) pivoted focus more toward AI cloud services and enterprise software, reducing its emphasis on metaverse consumer products.
• Snap (SNAP) continued AR feature integration but faced strong competition from TikTok and Instagram in social media engagement.
• Alphabet (GOOGL) accelerated AI research and cloud infrastructure but has been slower in consumer-facing metaverse platforms.
• Tencent (TCEHY) maintained strong gaming dominance but slowed down on broader metaverse expansion due to regulatory pressures in China.

Top Performers and Surprises

Top Performers: Meta and Roblox remain the metaverse leaders, innovating aggressively and delivering strong financial results. Nvidia’s growth underscores the essential infrastructure role for metaverse and AI tech.

Surprises: Microsoft’s strategic shift shows how even tech giants must adapt rapidly, and some earlier metaverse bets failed to capture broad consumer interest. Snap’s struggle illustrates how fast-changing social media trends can impact AR adoption.

Lessons Learned for Investors

• Emerging tech sectors like the metaverse are volatile and require patience and flexibility.
• Investing in the underlying infrastructure (hardware, software engines) often provides more stability than platforms chasing consumer trends.
• Diversification across related sectors (AI, gaming, cloud) can reduce risk.
• Continuous market research is critical—staying updated on technology shifts and company strategies pays off.

Looking Ahead: What’s Next for Metaverse Stocks in 2025?

The metaverse is far from a finished product. Key trends to watch include:

• Integration of AI and spatial computing for more immersive experiences.
• Growth in enterprise metaverse applications for remote work and training.
• Expansion of AR hardware like glasses and contact lenses.
• Blockchain and decentralized virtual worlds gaining traction, though regulatory challenges remain.

Investors should approach metaverse opportunities with a balanced view, focusing on innovation and proven business models while remaining mindful of sector risks.

Conclusion

The metaverse sector has evolved considerably since 2022. While some stocks have soared and validated early optimism, others have needed to recalibrate their focus. For investors, the journey underscores the dynamic nature of tech investing—success depends on adaptability, diversified exposure, and ongoing market insight.