A metaverse platform is a digital, 3D world in which users interact with each other by using virtual reality technology. In theory, a metaverse platform brings various avatars together, gives them an immersive environment in which to interact, and even allows them to buy or sell goods with cryptocurrencies. Though it has its roots in video games, metaverses are more than just a few epic games. Since its inception, the idea of a fully interconnected virtual world where people could work, socialize, and transact captured the tech industry’s imagination. This led to significant investment and a surge of venture capital into metaverse infrastructure.
However, the narrative is shifting. While metaverse concepts still include virtual events, digital commerce, and immersive collaboration, the largest technology companies are adjusting their strategies. Meta Platforms, once the poster child of the metaverse, has announced plans to reduce its metaverse spending by up to 30 percent and focus instead on artificial intelligence and hardware such as AI glasses. This change reflects broader trends in the tech industry where AI is becoming the primary focus for long-term innovation and funding.
The metaverse has also evolved beyond the early vision of virtual reality social worlds. Today’s growth is driven by practical applications such as enterprise training, industrial simulation, digital twins, remote collaboration, and augmented reality enhanced workflows. Adoption remains early and uneven, but advances in spatial computing, AI-powered content generation, and next-generation hardware continue to expand the range of possible use cases.
Although the metaverse ecosystem is still in its early stages, it is becoming more grounded in real economic activity. Below we break down some of the most compelling Canadian stocks tied to the metaverse story and help you decide if they belong in your portfolio for 2026.
What are metaverse stocks?
Metaverse stocks are companies engaged in developing and building the technology that will support metaverses. This includes a wide range of tech companies whose products include:
- Metaverse software and platforms: Metaverse applications – digital platforms such as gaming, shopping, and entertainment where users interact in a virtual, 3D immersive space – and related development tools.
- Connectivity: Lightning-fast connections, such as 5G companies, that allow millions of users to rapidly connect and download powerful data and high-end graphics.
- Cybersecurity: Software that protects your identity and finances while you’re using the metaverse.
- Immersive hardware: Such as virtual reality (VR) headsets.
- Semiconductors: Chip companies that support virtual reality (AR/VR/mixed) graphics and store massive amounts of data for metaverses.
Top metaverse stocks in Canada
Many of the largest companies developing the metaverse are found in the United States. Below we’ll break down some of the best metaverse stocks on the market.
| Metaverse Stocks | Description |
| Meta Platforms Inc. (NASDAQ: META) | Massive social media network that’s investing billions in VR content and metaverse technology |
| Roblox (NYSE: RBLX) | An early gaming metaverse that allows children to practice programming in a 3D space |
| Autodesk (NASDAQ: ADSK) | A software company developing programs for other metaverse companies |
Meta Platforms
It’s impossible to discuss the metaverse without examining Meta Platforms, which has invested heavily in virtual and augmented reality while continuing to generate the vast majority of its revenue from advertising across Facebook, Instagram, and WhatsApp. Meta’s core business remains strong: in 2025, the company delivered robust revenue growth driven by higher ad pricing, improved AI-driven targeting, and continued engagement across its Family of Apps, even as expenses rose due to heavy investment in AI infrastructure.
Despite this financial strength, Meta’s Reality Labs division continues to weigh on profitability. The unit, which houses Quest VR headsets, Horizon Worlds, and Ray-Ban Meta smart glasses, has accumulated more than $50 billion in operating losses since 2020. While Reality Labs revenue has grown modestly year over year and smart glasses have shown stronger consumer traction than VR headsets, losses remain significant relative to Meta’s overall earnings.
As a result, Meta appears to be retreating from its earlier, all-encompassing metaverse vision. A recent Forbes analysis notes that the company is dialing back its most ambitious metaverse initiatives and reallocating resources toward areas with clearer near-term returns, particularly AI, AI infrastructure, and AI-powered wearables. This shift reflects both investor pressure and broader industry trends away from speculative virtual worlds.
Looking ahead, Meta’s strategy suggests a more pragmatic approach: maintaining selective investments in mixed reality and smart glasses while prioritizing AI as the company’s primary growth engine. Rather than abandoning immersive technologies altogether, Meta is reframing them as another component of a longer-term and broader hardware and AI roadmap.
Roblox
Roblox is a free-to-play, user-generated content platform that has evolved into a vast global social and cultural ecosystem. The company has seen massive growth, now boasting over 151.5 million daily active users (DAUs) globally, with its total hours engaged soaring by 91% year-over-year in Q3 2025. Crucially, its strategy of “aging up” its demographic is successful, with users aged 13 and older now representing the platform’s fastest-growing and largest segment.
The platform’s business model is built around the sale of “Robux,” its in-app currency, used for avatar items and in-experience purchases. Financial performance is exceptionally strong, with revenue growing 48% year-over-year to $1.36 billion and bookings surging 70% year-over-year in Q3 2025. This momentum confirms the efficiency and immense scale of its developer-driven content model.
Roblox is aggressively diversifying its monetization by expanding into immersive advertising. This new pillar allows brands to create interactive ad experiences that target its young, engaged user base, adding a significant revenue stream beyond Robux sales. Furthermore, the company’s financial health is improving; despite a net loss due to heavy infrastructure investment, Free Cash Flow grew by 103% in Q3 2025 to $442.6 million.
The stock has experienced strong appreciation over the past year, reflecting market confidence in its long-term strategy. With its massive growth in users and bookings, successful “aging up” strategy, and a rapidly expanding developer ecosystem (which surpassed $1 billion in payouts), Roblox is well-positioned for long-term profitability as it solidifies its place as a leader in the global gaming and immersive technology markets.
Autodesk
Autodesk is a metaverse company engaged in 3D design and engineering software. Though they’re not actively building their own virtual world, Autodesk could play a major role in developing immersive software that other metaverse companies purchase.
In fact, Autodesk has already positioned itself as a software leader among other metaverse companies. They’ve partnered with Epic Games to design software for architects and engineers, and they’ve also collaborating with Nvidia to develop scientific computing and manufacturing applications with the metaverse in mind. If successful, these partnerships could create metaverse software that brings a new level of interactivity to the workplace. Professionals can work together in an immersive, 3D space—without ever leaving their offices or homes.
Autodesk is playing a key role in metaverse development by integrating technologies like Building Information Modeling (BIM) and Real-Time 3D (RT3D). Its tools, such as Revit, enable seamless virtual construction and architectural visualization, while RT3D enhances real-time interaction across industries like architecture, construction, and manufacturing. Autodesk is also advancing Extended Reality (XR), blending virtual, augmented, and mixed reality to create immersive design and collaboration experiences.
The company is also expanding its metaverse presence through industry partnerships, such as its collaboration with Gamitronics on the “PartyNite” platform, which merges gaming, virtual reality, and social networking.
Other metaverse stocks you might want to consider include:
- Electronic Arts
- Microsoft Corporation
- Unity Software
- Nvidia Corporation
- Axie Infinity
- Snap Inc.
- Take-Two Interactive
Pros of metaverse stocks
- Exciting opportunities. Metaverse stocks are relatively new and could present investors with a massive opportunity to buy now before this Web3 technology explodes.
- Diverse range of companies. No company is solely focused on developing metaverses, which means you must buy tech stocks from other sectors to invest in it. That’s not a bad thing, as it can help you diversify your tech holdings.
- Large cap companies. Many of the companies developing the metaverse are large-cap or blue chip companies with massive streams of revenue, such as Meta, Amazon, NVIDIA, and Microsoft. Even if the metaverse fails, these companies are well-known brands with products and services that will continue to sustain their growth.
Cons of metaverse stocks
- The metaverse is in the early growth stage. Though metaverse technology is exciting, these virtual worlds are in their early days of development. Atari, Gucci, Warner Music, and Samsung are among the many companies buying land and already doing business in blockchain metaverses like Decentraland and The Sandbox. For these and other platforms like Meta, it could be years before they become profitable.
- Industry is driven by speculation. Like during the internet bubble, investors risk pumping money into worthless metaverse projects. Similar to the dot-coms, some illegitimate crypto projects are launching to attract speculative money.
- Strict regulation could be imposed. Metaverses are expected to use cryptocurrency to exchange goods and services within the app. Since countries are still figuring out how to regulate crypto transactions, uncertainty surrounds the rules and regulations in the future.
- Expect short-term volatility. Many companies are likely going to fail before they launch a successful metaverse. If you’re going to invest in metaverse stocks, be prepared to invest for the long term.
Are metaverse stocks right for you?
Metaverse stocks are best for investors with a high-risk tolerance, or growth stock investors looking for exciting opportunities in emerging technology.
But metaverse investing isn’t for everyone. Many metaverse stocks are overvalued—meaning their fundamental business is worth less than what their stock trades at—which could make those following a value investing philosophy squeamish. Due to their speculative nature, metaverse stocks aren’t great for conservative investors, as their prices could jump high and crash low in the short-term.
For those who want to invest in the metaverse, but don’t want to choose their stocks individually, you could buy shares in metaverse exchange-traded funds (ETFs). Some metaverse ETFs to consider include:
- Roundhill Ball Metaverse ETF (METV)
- Evolve Metaverse ETF (MESH)
- Horizons Global Metaverse Index ETF (MTAV)