The top metaverse stocks to buy are a hot topic these days and with good reason. Once considered a pipe dream, a fully immersive, virtual three-dimensional world could soon become our new reality. As a result, companies involved in the development, creation and deployment of this technology are experiencing exponential growth. 

Despite being in its early stages, the potential of the metaverse has many touting it as the next dot-com stock. A virtual world will power social and commercial technologies, thereby redefining how we live and work. Businesses can leverage the metaverse to provide their customers with a 360-degree virtual experience while individuals will interact with one another in a three-dimensional world.

Given the promising prospects of the metaverse, companies leading the charge have attracted significant interest from investors. Early buyers in the space stand to earn massive gains as the technology scales in the coming years. Experts predict the metaverse market will be worth $5 trillion by 2030. 

Roblox (RBLX)

Companies across industries are dabbling in the metaverse but the gaming sector is playing a key role in the development of these virtual platforms. The company leading this charge is Roblox (NASDAQ:RBLX), a platform for games, social hangouts and experiences designed by its users. Roblox is perhaps our first glimpse into what a fully virtual world will look like and the response has been overwhelmingly positive.

Since its inception, the company has built out its metaverse by incorporating more real world tools on its platform. Last year Roblox launched a video chat capability– combining the features of Zoom (NASDAQ:ZM) and FaceTime with its gaming environment. More recently, it signed a deal with Walmart (NYSE:WMT) to sell ‘real-world’ items on the platform. In essence, every Walmart purchase comes with a virtual twin that buyers can use on their avatar.

The company’s financials reflect the success of its investments. Revenue was up 22% year-over-year (YOY) and bookings were up 19% YOY. As Roblox continues to expand its platform, this is one of the top metaverse stocks to buy for plenty of upside potential.

Meta (META)

Meta’s (NASDAQ:META) new name (formerly Facebook) is a sign as clear as any other on its shifting priorities. In the last few years the company has made large investments in Reality Labs, the division that houses its metaverse initiatives. In addition to its augmented and virtual reality (AR/VR) headsets, Meta has placed a heightened focus on the role of generative AI in the metaverse. The company recently launched an open source language model- the Llama 3 and is testing an AI image generator on Whatsapp. 

Meta’s metaverse investments show plenty of promise in the long-haul but continue to hinder short-term finances. In the last quarter, Reality Labs has generated $440 million in revenue and an operating loss of $3.85 billion. These losses are expected to grow as Meta continues to invest in these initiatives. 

But looking at things through a long-term lens, the company’s metaverse investments will pay off. For one, Meta’s large user base of 3.2 billion active users across its platforms enables the company to leverage its network when testing on launching new features to improve the user experience. Moreover, advertising revenue remains strong, increasing by 27% YOY in Q1. 

As Meta’s metaverse continues to expand, this is one of the top metaverse stocks to buy for long-term gains.

Unity Software (U)

Another company that’s making waves in the metaverse gaming sector is Unity Software (NYSE:U). The company holds a critical market position because it provides the tools required to create games. This includes sound effects, computer graphics and multiplayer features in the game. Unity provides these services through a freemium model that allows smaller developers to build games on its platform.

The dawn of metaverse has served as a boon for Unity Software offerings. The company’s tools can be used to create 2-D and 3-D content for mobile, PC and AR/VR devices. Developers can also leverage the Unity IAP and Unity Ads products to improve the revenue potential of their content. More recently, Unity announced a partnership with Walmart to integrate its Commerce API into their games. This allows creators to sell physical items in the 3D world. 

Looking at the financials, Unity reported earnings per share at -75 cents which was below the estimated -62 cents. However, revenue came in 6.68% above analyst expectations at $460.38 million. While the results are a mixed bag, Unity Software is ultimately worth betting on for its long-term prospects. The company projects a 2% to 4% increase in growth this year. 

Despite short-term headwinds, Unity’s key role in the gaming industry makes this one of the best metaverse stocks to buy.

On the date of publication, Divya Premkumar 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.