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Hot Esports Penny Stocks To Watch After Facebook’s Metaverse News

Whether we’re talking about esports penny stocks, augmented reality, virtual reality, or digital entertainment, Facebook (NASDAQ:FB)’s latest update has sent a shockwave through tech. It isn’t broader technology benefiting from this move but an exciting niche. In particular, companies dealing with any relation to “metaverse” technology are gaining attention right now. But what exactly does that mean?

Those of you who are gamers will already know this. But if you’re new to this topic, let me give you some of the basics. First, “Metaverse” isn’t something that Facebook created. This is something that has been around for years. A basic metaverse is a virtual reality space where users can interact with a digital environment with other users and bots.

You probably have become familiar with a metaverse without even knowing it. Roblox (NYSE:RBLX), Minecraft, Fortnite, and plenty of other virtual, interactive platforms have laid the groundwork for this new “metaverse” trend.

Ultimately, we’re talking about a large, virtual city with parties going on everywhere. Someone can walk around, engage with people, play in-metaverse games, shop in virtual stores, and have an entirely different, virtual identity than they have in real life. If you’ve seen the movie “Ready Player 1,” this is probably one of the clearest examples of a Metaverse crossing over into the real world.

So this may be a bit broader than initially anticipated. But in my opinion, you can consider many things a metaverse. Here’s a quick checklist:

  • The virtual world is constant – there is no “final boss” or ending credits nor plan of doing so. It persists indefinitely.
  • Depending on the platform, there aren’t restrictions for use. There’s open participation. However, I will say that when it comes to child-specific metaverse settings, there’s likely a few restrictions based on safety issues.
  • There’s an in-world economy with some type of currency. Whether it’s coins, logs, gems, etc., most metaverse platforms will have some sort of open exchange system.
  • Unrestricted ability for users to build and expand the digital universe. Anyone that’s part of the metaverse can contribute to it and/or enhance it further via different actions taken.
  • Peer-to-peer interaction – each user in a metaverse is their own, individual person. It’s not like Zelda where you only engage with bots. Peer-to-peer allows for active collaboration within the metaverse.

This metaverse checklist will evolve as people find more ways of benefiting from a virtual reality platform. However, when looking for Metaverse stocks, these are a few things to keep in mind. This is why many esports penny stocks have become a focus after Facebook’s latest news.

Esports Penny Stocks To Watch

  1. Alpha Esports Tech Inc. (OTC:APETF) (CSE:ALPA)
  2. Good Gaming Inc. (OTC:GMER)
  3. NextPlay Technologies (NASDAQ:NXTP)

1. Alpha Esports Tech Inc. (OTC:APETF) (CSE:ALPA)

alpha esports tech investor info deck image

Alpha Esports may have indirectly become one of the metaverse stocks to watch right now. Going over the checklist, we can see that the company has exposure to several areas of interest. First, its GamerzArena platform allows for active engagement for users to compete in esports.

There’s also an opportunity for real-world scouts to observe gameplay to find their next pro athlete to develop. Its platform also has its own “in-world” currency: a Bitcoin pegged token, Alpha Coin. Gamers can use these Alpha Coins to enter contests and tournaments. Winners can also redeem their Alpha Coin winnings for local currency or purchases in the GamerzArena store.

These are the broader strokes of Alpha Esports. A more in-depth look shows that since going public this year, the company has focused mainly on growing its user base to continue building its reach into the world of esports. According to the company, GamerzArena boasts over 100,000 active users and a rapidly evolving ecosystem.

The last few updates demonstrated its continued focus on this growth initiative. There is already a long list of companies partnering and working with Alpha (see more here), and the company continues closing new deals. The latest include a partnership with Esports Entertainment Group (NASDAQ:GMBL)’s EEG Labs, the Nets Gaming Crew (the NBA 2K League affiliate of the Brooklyn Nets), and it even acquired Heavy Chips Casino and Sports Betting, which could open up entirely new opportunities for Alpha.

2. Good Gaming Inc. (OTC:GMER)

Good Gaming GMER stock

While Alpha focuses on a more traditional esports metaverse, Good Gaming has used new trends in things like non-fungible tokens (NFTs) to build its virtual ecosystem. In particular, the company’s MicroBuddies platform has become a core focus for Good Gaming. Everything from blockchain technology to cryptocurrency is getting deployed into this ecosystem. With the expected launch before the end of the year, the company has begun implementing upgrades to prepare for another round of beta testing.

So how does the metaverse come into play? According to the company, MicroBuddies is designed for players to collect “microbes” that can self-replicate and passively produce their cryptocurrency “GOO.” The players can then trade this “GOO on third-party crypto exchanges.

Read more: Best Penny Stocks to Buy Today? 3 to Watch Right Now

In a press release earlier this year, David B. Dorwart, Good Gaming, Inc. CEO, explained, “The recent release of our Game Documentation for MicroBuddies™ is a really big deal for us, as it now gives us considerable depth and abilities to market our product to the right consumers in the NFT and gaming space…We are confident it will be well received by NFT collectors, gamers, and the general public…We will now take an aggressive approach with finalizing the game and bringing as much exposure to our brand in an effort to make MicroBuddies™ a recognized name in the NFT gaming industry.”

3. NextPlay Technologies (NASDAQ:NXTP)

We’ve discussed NextPlay over the last few weeks in different lights. That’s because the company has built a portfolio centered around various facets of technology. First, its HotPlay platform allows for gaming and advertising to converge. This includes instances where avatars are passively skinned in branded gear or indirectly advertising on a micro-billboard in the background of a game. On the flip side of things, NextPlay has expanded its fintech platform with a new subsidiary, NextBank International. This allows the company to gain exposure to alternative asset management, including cryptocurrency and blockchain security.

NXTP Twitter metaverse

This week, Facebook’s metaverse news shed some extra light on NextPlay. In a Tweet on October 29, the company stated, “#Facebook changes name to @Meta ~ here comes the #Metaverse $NXTP stakeholder T&B investing 10 billion to build Metaverse Translucia virtual world.” Linking to a more detailed story, highlighting T&B Media Global planning to invest “not less than 10 billion baht’ to create a virtual world, Metaverse Translucia, in Thailand.

To give you some context, 10 billion baht is roughly $299.94 million. The article also stated that “T&B Media Global…has brought its subsidiary, NextPlay Technology Inc., a technology developer, to be listed on the US Stock Exchange of Thailand (NASDAQ) to pursue the goal of expanding the virtual world beyond imagination. “Trans Lucia” is worth at least 100 billion baht in the future.”

With this metaverse news, NXTP stock has hit the radar of retail traders in the stock market today.

As I said above, the idea of a metaverse isn’t something new. However, it has become much more mainstream and a more precise focus for investors unfamiliar with this virtual phenomenon. Knowing that the volatility has already started to creep into the market as traders and investors digest this “new” idea.

Read more: 5 Short Squeeze Penny Stocks To Watch Today

Wherever you stand on the topic right now, it’s important to understand that Facebook’s metaverse news has become a catalyst sending a ripple effect across the tech world. With that has come plenty of speculative trading trends to watch.

top esports penny stocks to watch right now

Pursuant to an agreement between Midam Ventures LLC and Alpha Tech INC Midam has been paid $300,000 for a period from February 12, 2021, to April 2, 2021. We may buy or sell additional shares of Alpha Tech INC in the open market at any time, including before, during, or after the Website and Information, to provide public dissemination of favorable Information about Alpha Tech INC. Now extended from 6/30/2021 to October 29, 2021 & no additional compensation of any kind has been received by MIDAM. Click Here For Full Disclaimer.

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Hot Esports Penny Stocks To Watch After Facebook’s Metaverse News