The metaverse, a digital universe where virtual and physical realities converge, is rapidly evolving and presenting substantial opportunities for early investors. This burgeoning market is projected to reach $74.4 billion in 2024 and a staggering $507.8 billion by 2030, driven by advancements in virtual and augmented reality technologies​.

The integration of artificial intelligence (AI), blockchain, and advanced graphics technologies is also enhancing the capabilities and appeal of metaverse platforms​, which could make the particularly worthwhile for investors.

Investors who identify and support pioneering companies in this space could see substantial returns as the market matures. The transformative potential of the metaverse, akin to the early days of the internet, makes it a compelling investment frontier for those looking to capitalize on the next evolution of the internet.

I think that these metaverse stocks could be great for early investors thanks to their disruptive growth potential as well as their ability to deliver some serious capital appreciation.

Roblox (RBLX)

Roblox (NYSE:RBLX) operates an online platform and game creation system that allows users to design and play games created by other users. Roblox has grown to become a significant player in the gaming and metaverse industries.

RBLX is my contrarian play out of the three stocks discussed in this article.

It reported a loss of 43 cents per share on bookings of $923.8 million for Q1, beating analysts’ expectations of a 53-cent loss on bookings of $919 million. Despite this, the company’s guidance for Q2 and the full year fell short of Wall Street estimates, leading to a significant stock drop. Roblox forecasted Q2 bookings of $885 million, below the consensus estimate of $929 million, and full-year bookings of $4.05 billion, missing the target of $4.18 billion. As a result, Roblox stock plummeted.

I think that now is a good time for investors to consider RBLX stock since it could now be seen as fairly valued due to the sell-off. It’s down around 12% year-to-date, and its user metrics are still strong despite showing some short-term weakness. It then has the potential to make investors rich who get in on this contrarian angle.

Unity Software (U)

Unity Software (NYSE:U) is a leading platform for creating and operating interactive, real-time 3D content. Unity is widely recognized for its game development engine, which is used by developers worldwide to create both 2D and 3D games and experiences. This makes it one of the most important metaverse stocks to consider, and I think it’s still early in its development as a company.

Unity reported Q1 2024 results in line with expectations, with a total revenue of $460 million, down 8% year-over-year, primarily due to portfolio adjustments. The company’s strategic portfolio, however, saw a 2% year-over-year revenue increase to $426 million.

The company’s focus is on accelerating revenue growth while maintaining attractive profit margins, with a significant emphasis on the gaming industry, which generates $260 billion annually.

I think it’s crucial to note that the gaming industry is bleeding more and more into metaverse-like aspects, such as VR headsets becoming more mainstream. This is a trend that will likely only accelerate as the gaming and metaverse worlds collide, which could be a boon for Unity stock holders.

Immersion Corporation (IMMR)

Immersion Corporation (NASDAQ:IMMR) specializes in haptic technology, which enhances digital interactions by providing tactile feedback. Haptic technology is crucial for creating realistic and engaging experiences in the metaverse.

Immersion, which generates revenue primarily through royalty and license fees, and development contracts, has a significant presence in markets including Japan, Korea, Germany, and the U.S.

IMMR reported exceptional financial results for Q1 2024. Revenue soared to $43.8 million from $7.1 million in Q1 2023, surpassing the estimated $24.94 million. GAAP net income reached $18.7 million, or 59 cents per diluted share, slightly below expectations but still a significant increase from the previous year.

The company remains well-positioned to leverage its intellectual property and enhance long-term shareholder value, supported by a robust balance sheet. It could then be one of the best metaverse stocks for investors to consider that could make them wealthy in the future.

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.