The metaverse concept could potentially be the biggest step in the evolution of the internet. It is essentially an interactive digital universe facilitated by technologies such as virtual and augmented reality.

Hence, it could foster a digital ecosystem to help companies rake in the big bucks. Consequently, investors are pondering over the best metaverse stocks to buy to generate massive gains down the road.

The sector is still in its nascency but could become a behemoth in the long run, thanks to its ability to connect people through 3D virtual worlds. Companies will look towards the metaverse as one of the go-to mediums for building brand equity.

Therefore, Grand View Research estimates an enormous $47 billion market size for the metaverse, and it believes that the market could grow to $679 billion by 2030. Below are seven of the best metaverse stocks to buy now:

Best Metaverse Stocks: Meta Platforms (META)

Last year, Facebook shocked the world by rebranding itself as Meta Platforms (NASDAQ:META) to showcase its long-term objective of commercializing the metaverse sector effectively.

Its Reality Lab segments will be leading the charge towards ensuring that the metaverse eventually becomes a reality.

Nevertheless, the massive losses from the division, as its investors worried about how much Meta is willing to sacrifice, on what could potentially become a multi-billion dollar industry.

The good news for investors is that META stock has bottomed out, and those willing to stomach the risk can go along on the ride. Moreover, Meta will be looking to leverage the success of its social media business to continue financing its metaverse aspirations.

A bet on Meta is essentially a bet on its innovation DNA that has proven naysayers wrong over the past several years.

Unity Software (U)

Unity Software (NYSE:U) has flown under the radar of late despite being of the biggest tech stocks in the market.

Its gaming engine powers more than 50% of games worldwide and has been the go-to option for developers. It bundles together multiple tools for running ads, sound effects, and creating graphics. Moreover, these games can run across multiple platforms without being rewritten.

Unity has been an incredible performer, with its 5-year revenue growth averaging 42%. It has a clear vision for its future, expecting to generate over 30% annualized revenue growth over the long term.

Moreover, it is looking to expand beyond the gaming business towards developing autonomous driving, VR education, industrial automation, and, most recently, theatrical special effects with its acquisition of Weta Digital. Hence, it’s likely to become a major player in the metaverse space given its growing competencies.

Nvidia (NVDA)

Most investors would find it hard to draw a connection between the metaverse and Nvidia (NASDAQ:NVDA).

The metaverse is essentially a visual connection with users and needs to be delivered through computer-based imagery. That’s where Nvidia’s hugely successful graphics cards appear to be the perfect fit.

Moreover, it has also launched a software called the Omniverse, which is an “easily extensible platform for 3D design collaboration and scalable multi-GPU, real-time, true-to-reality simulation.” It currently forms a small portion of its revenue mix at this time but can grow at a breathtaking pace in the future.

Furthermore, the company recently announced that Meta Platforms bought 16,000 of its A100 processors to handle AI workloads. Therefore, it seems that Nvidia is a critical part of the Metaverse puzzle, and its established businesses will help leverage its success in the field making it one of the best metaverse stocks to go after.

Matterport (MTTR)

Matterport (NASDAQ:MTTR) offers 3D spatial mapping technology to scan real-world locations for its AR and VR applications. The scanned locations are then uploaded to its cloud servers and accessed via subscriptions.

Subscriptions drive more than 70% of its sales, while the rest accrues to its products business. As a successful first mover in its niche, it could grow into a much larger business in the future and potentially attract offers from other metaverse-oriented tech or real estate firms.

2020 was a colossal year for the business, growing its sales by 87% to $85.9 million. However, growth rates have slowed considerably in line with the pandemic fade. It still expects to generate a healthy $125 million to $135 million in sales this year, which amounts to 12% to 21% growth.

Additionally, it can narrow out the gap between converting more of its free users to paid ones and it can generate more impressive results in the future.

Snap (SNAP)

Social media giant Snap (NYSE:SNAP) saw a robust uptick in active users during the pandemic, similar to its peers.

User growth has slowed down of late but remains elevated compared to other companies in its niche. Moreover, its investments in AR are driving strong growth for the company, a pattern that will continue to play a role in the platform’s growth in the future.

More than 250 million of its users made use of its AR tools during the first quarter. The innovative Snap Lenses tool drove soaring engagement numbers to the platform. Moreover, Snap’s wearable glasses, Spectacles, will complement these tools by projecting AR and metaverse experiences into the user’s vision.

With the metaverse industry expected to grow at a staggering pace over the next few years, and its leadership position in AR, SNAP stock might be in for a vigorous run-up in value.

Alphabet (GOOGL, GOOG)

Alphabet’s (NASDAQ:GOOGL, NASDAQ:GOOG) Google has dominated the internet for the last few decades.

It’s been the gateway to the internet for most online users, and if the metaverse is 3D internet, expect Google to be a major player. Moreover, Alphabet has also been foraying into AR and VR-related businesses to expand its capabilities in the metaverse.

It acquired North, a smart glasses market, in 2020 to enhance its VR capabilities. Moreover, Project Iris will build a VR headset that could compete with Meta’s Oculus Qwest 2 headset. Additionally, we also got to see a sneak peek of Project Starline last year, which effectively combines hardware and software competencies to make a “pane of glass” serving as a 3D display.

Best Metaverse Stocks: Roblox (RBLX)

Roblox’s (NYSE:RBLX) video game ecosystem was a smash hit during the pandemic, with millions of corralled-up kids building, sharing, and monetizing games on the platform. It now boasts a massive, engaged community that will benefit immensely from the metaverse.

However, the platform faces reopening headwinds, which is why its growth has decelerated in recent quarters. Nevertheless, it ended with close to 50 million daily active users (DAUs) last year, representing a 33% growth from the previous year. Moreover, it is also tapping into the older demographic and is expanding overseas.

Its results from May show 50.4 million DAUs, with engagement hours climbing 10% from the previous year to 3.6 billion hours. Though it’s tough to see numbers similar to the pandemic, Roblox can surprise investors in the upcoming quarters.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.