Elon Musk is not a fan of the Metaverse. Last week, he told the satirical site The Babylon Bee that he “still doesn’t see a compelling meta-reverse situation.”
What does the CEO of Tesla and SpaceX not like about the metaverse? Most. He criticized virtual reality (VR) headsets, calling them “TV on the nose.” He challenged the assumption that people want to spend a lot of time in the Metaverse. In general, he called the whole concept a “tabloid.”
Musk is without a doubt a technological visionary. He is the richest man in the world. But in this case, you could be wrong. If so, this is how you can make more money than Musk in the metaverse.
Look what it could be
Compared to Musk, ordinary investors may have an advantage. The billionaire himself alluded to this in an interview with The Babylon Bee. Musk has said he is “unable to see” how metaversion could change the rules of the game. By having a vision that he doesn’t have, you can get more richness out of a metaverse than he can.
Musk has made several legitimate criticisms of currently available virtual reality headsets. But what is being used today is not as good as what is being prepared. Expect bulky helmets to be replaced by lighter versions and even goggles. Also expect other gadgets, like haptic gloves, that will make the virtual world of the Metaverse more realistic.
What about Musk’s opinion that people won’t spend a lot of time in the Metaverse? Maybe he is right. But avid gamers are likely to prove him wrong. The big question is whether the metaverse will appeal to non-players. The answer probably depends on the applications being developed.
The ability to teleport virtually anywhere and hang out with anyone could be very popular. Millions of people can enjoy playing sports, going to concerts, or just hanging out with their friends in another city.
Shopping in the Metaverse can be much more attractive to many buyers than searching for items in a browser. Imagine a virtual mall where you can choose products and even try on clothes that can be delivered to you in the real world after shopping in the Metaverse.
Since the metaverse is virtual, the possibilities go far beyond simply reproducing what can be done in the physical world. Maybe you and a friend could play with your favorite rock band in front of thousands of screaming fans instead of just attending a concert. Maybe you and a friend could play golf on the surface of Mars. And these are just a few ideas of what the Metaverse could make possible.
Stocks you can buy that Musk probably doesn’t want.
It’s fair to say that Musk is unlikely to invest in Metaverse stock. A man without vision will not take any action. But for those with a vision of what the metaverse could turn out to be, it is possible to buy multiple stocks that should be big winners over time.
Perhaps the most obvious choice is Meta Platforms (NASDAQ: FB). Meta, formerly known as Facebook, is already a safe bet in virtual reality thanks to its famous Oculus headsets. The company has painted the clearest picture of what the Metaverse could look like. You are also investing billions of dollars to make the metaverse a reality.
Nvidia (NASDAQ: NVDA) is already taking advantage of the metaverse. Large companies use Nvidia’s Omniverse platform to create 3D factory simulations and virtual collaboration. Demand for Nvidia’s graphics chips is also expected to skyrocket once the metaverse goes mainstream.
Big tech companies aren’t the only players building the metaverse. Thousands of artists and software developers will need tools to bring this virtual world to life. Unity Software (NYSE: U) wants to become a leading provider of these tools.
But none of these three companies need to wait for the success of the Metaverse. Meta is very profitable thanks to its social media platforms. Nvidia currently generates billions of dollars a year from its graphics chips that power games, artificial intelligence applications, and more. Unity software is used to develop many of the world’s most popular video games.
There is no guarantee that you will make more money in the metaverse than Musk. Perhaps your skepticism is correct.
However, several large investors are betting that he is wrong. Cathie Wood, for example, believes that the Metaverse represents a multi-million dollar opportunity that could transform all sectors of the economy.
Perhaps the most likely way for Musk to become a bigger Metaverse winner than you is to change his mind.
Musk had a vision of what the Internet could become before most. He saw the opportunity for electric cars before many others. He understood that private companies could revolutionize space travel as few have done. Musk may be behind the curve when it comes to “understanding” the metaverse. But don’t underestimate the possibility that you will tackle a metaverse in the near future.
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