ASX metaverse shares on investors' radar

Highlights

• A metaverse can be defined as a virtual-reality space where users interact with a virtual environment and other users.
• Vection Technologies Ltd (ASX:VR1) is a multinational software company focusing on real-time technologies for industrial companies digital transformation
• Playside (ASX:PLY) is a gaming company, which is currently planning the development of a dedicated research and development team to take advantage of opportunities in the metaverse space

Last week, the Collins Dictionary declared ‘NFT’ as 2021’s Word of the Year, beating out other tech-related words like ‘cryptocurrency’ and ‘blockchain’ – all of which have made it into common parlance this year, thanks to the rapid emergence of the crypto space, which has taken it from the recesses of the internet - uttered predominantly by tech wizards and internet nerds – to featuring in dinner table conversations, albeit from people who haven’t the faintest idea of what the words mean.

ASX metaverse shares on investors' radar

Another such word, which has made its way to the zeitgeist in the past month or so is: ‘metaverse’ – thanks in large part to the CEO of the company formally known as Facebook – Mark ‘is he a cyborg?’ Zuckerberg, whose company, now simply known as Meta, will incorporate the metaverse into the everyday lives of millions upon millions of users.

In an 11 minute online presentation, Zuckerberg made his best impression of a normal human being as he outlined his plan to build the metaverse.

“One day, you’re going to able to do almost anything you can imagine,” Zuckerberg opined.  

What is a Metaverse?

Although the word appears to have emerged in the past month or so, it actually originates from 1992 science fiction novel ‘Snow Crash’ by Neal Stephenson, in which he wrote about lifelike avatars mingling in realistic 3D settings.

Since then, of course, the concept of of avatars mingling in artificial universes has become a Hollywood tripe – most famously in James Cameron’s 2009 blockbuster Avatar, where the human characters embody large lanky blue creatures called Na'vi.

But in a nutshell, a metaverse can be defined as a virtual-reality space where users can interact with a virtual environment and other users.

Image source: © Skypixel | Megapixl.com

ASX Stocks Engaging in Metaverse

Vection Technologies Ltd (ASX:VR1)

According to its website, Vection Technologies is a multinational software company focusing on real-time technologies for industrial companies digital transformation.

2021 has served Vection Tech very well, with year-to-date growth of 79% and a growth of 169% in the last month alone.

Playside Studios Limited (ASX:PLY)

PlaySide Studios is a gaming company that is currently planning to develop a dedicated research and development team to take advantage of opportunities in the metaverse space.

On 17 November, Playside announced it had received firm commitments for AU$25 million share placement.

PLY is currently trading at AU$0.885 a share at 1:44 PM AEDT on 1 December 2021, marking a 96% year-to-date growth.

iCandy Interactive Limited (ASX:ICI)

iCandy Interactive is another Australian publicly traded company that develops and publishes mobile games and digital entertainment for a global audience.

iCandy’s games are played by over 350 million gamers worldwide and has received several awards in various coveted international events.

ICI is currently trading at AU$0.172 at 1:48 PM AEDT on 1 December with a year-to-date return of 38%.

The Bottom Line

Did you ever hear about what happened to the guy who could’ve invested early in Microsoft, but didn’t?

Exactly.

The proposal of such a thing as the metaverse is tough for anyone to wrap their head around.

I suppose we’ve all seen it in movies, but to have it incorporated into every day life seems - dare I say it - like a science fiction movie. And yet, here we are, possibly on the cusp of revolution that will see everyday people move their day-to-day life from the real world to a digital one where the natural bodies no longer represent us, rather the digital avatars that we choose to inhabit.

Perhaps it is far-fetched. But if this idea comes to fruition, there will be a slew of companies profiting off this change. So, here’s your chance to get in early, because if it does end up blowing up, you don’t want to be dining out at McDonalds ten years down the track, telling them the story of how you could’ve invested in the early stages of the metaverse.