The metaverse market is one that’s hard to digest.

On the one hand, this space was supposed to be a fast-growing market with diverse platforms providing varying new innovative capabilities. Major metaverse platforms have attracted vast consumer bases and cater to industrial-specific needs. Gaming benefits from virtual worlds and immersive experiences. And even media and marketing utilize the metaverse for personalized advertising and content creation. 

However, the metaverse sector is one that’s really fallen off since its post-pandemic boom. Companies looking to engage in this space remain bullish on the long-term prospects the metaverse provides. Yet the term “metaverse” is such a nebulous word, it’s really hard to define.

But for companies clearly making waves in this space, three top picks stand out. These are for long-term investors bullish on the growth prospects of the metaverse.

Meta Platforms (META)

Meta Platforms (NASDAQ:META) has been among the biggest beneficiaries of a tech-led market rally last year and throughout 2024.

The stock is now up more than 55% this year alone, suggesting investors remain bullish on the company’s long-term prospects. This move isn’t surprising when one looks at the company’s fundamentals. Profitability is surging 27% as the company dials in spending and focuses on efficiency.

However, not all metaverse spending is going away. The company is still pouring billions of dollars to work in this high-growth area. Nevertheless, META’s focus on its core three social media platforms WhatsApp, Facebook and Instagram is notable. Meta Platforms impressively serves nearly 40% of the global population. Thus, from a stability standpoint, there’s a lot to like about Meta’s deep pockets. Its pursuit is clear in such investments of more speculative, higher-growth areas of the market.

We’ll have to see how the metaverse ultimately turns out. But for investors looking for a high-upside and relatively low-risk pick in this space, META stock certainly looks attractive.

Roblox (RBLX)

One of the most popular games that emerged during the pandemic is Roblox (NASDAQ:RBLX). Currently, Xbox, PCs, tablets and smartphones worldwide support it. Roblox provides a creator-driven ecosystem that has offered millions of experiences, fostering user engagement in an increasingly online world.

In 2024, management expects revenues to surge 47%, with sales expected to double two years from now. Although the company has continued to post losses, Roblox’s growth has untapped potential. Thus, long-term investors should watch this company as a key potential metaverse winner.

In recent news, Transcosmos launched metaverse services on Roblox with EbuAction, enhancing content production and marketing strategies. This collaboration targets younger audiences across Roblox, Fortnite and ZEPETO, utilizing user interactions and tailored solutions for clients.

Moreover, the company will announce its Q2 of 2024 earnings report on August 1. Recently, Roblox faced a security breach affecting over 10,300 creators’ personal information due to a vendor, FNTech. While internal systems remained secure, this incident followed a similar breach in 2020. Additionally, Roblox aimed to enhance voice safety using its Real-Time Safety system to analyze communications and enforce policy compliance effectively.

So, be sure to consider these clearly headwinds. But overall, RBLX stock remains a top consideration for investors interested in the metaverse trade.

Qualcomm (QCOM)

As artificial intelligence (AI) continues it expansion, so does Qualcomm’s (NASDAQ:QCOM) stock price. Known more as an AI beneficiary due to the company’s core semiconductor business, Qualcomm benefits from growth of other sectors, including the metaverse. Whoever needs chips to power their devices or applications will need to go to one of the major players. And Qualcomm is certainly a key beneficiary of a number of long-term secular growth catalysts.

So, it should be no surprise that QCOM stock has surged more than 43% in 2024. The company has shifted its focus from mobile chips to AI-compatible chips for PCs, driving demand as major manufacturers adopt its Snapdragon AI-PC chips. This strategic pivot positions Qualcomm for continued gains in the future.

Soon, Qualcomm will reveal its new generation AI advancements on Snapdragon for India event on July 30 in New Delhi. Announcements regarding gen AI is expected by analysts, with the company set to reveal a new Snapdragon chip. This makes 5G accessible for budget smartphones. The innovation could enhance online gaming, video streaming and cloud applications across the country.

For those looking to benefit from the long-term growth potential of AI, the metaverse and other trends, QCOM stock appears to be a decent bet right now.

On the date of publication, Chris MacDonald did not hold (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.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.