10 Best Metaverse Stocks to Buy

Sea

Although Sea went public just over a decade ago, the company has made significant strides in the metaverse space, including through the acquisition of Refract, an artificial intelligence-based games company. Sea has raised $6.3 million to help develop wearable technology, known as AXIS, which supports full-body motion capture.

Refract has also bought game developer Deep Dive Studios, which will create immersive online games such as fighting game FreeStriker. Sea has also made other gaming acquisitions, facilitated by its game development and publishing division called Garena and its investment subsidiary Sea Capital.

In the fourth quarter of 2021, Sea’s revenue increased 105.1% to $3.2 billion from $1.5 billion a year earlier. This performance is due to the popularity of its games. However, the company reported a loss and fell short of Wall Street earnings estimates, posting -$617.6 million, compared to -$523.59 million in the fourth quarter. last year11.

This performance was largely due to concerns about “some moderation in online activity and fluctuating user engagement”. Additionally, Chinese heavyweight Tencent reduced its stake in Sea from 21.3% to 18.7%. This move resulted in a more than 11% drop in Sea’s share price12 .

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