5 Best Metaverse Stocks To Invest In

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 243

While Amazon.com, Inc. (NASDAQ:AMZN) does not currently have any direct metaverse offerings, the company has been exploring the technology for a considerable period of time. Earlier this May, Amazon.com, Inc. (NASDAQ:AMZN) launched a new service, called “Amazon Anywhere,” that will allow customers to purchase physical products from its online store while playing video games or interacting in virtual reality. Amazon.com, Inc. (NASDAQ:AMZN) said its new service will be launched within Peridot, an augmented reality game from Pokémon Go developer Niantic. The e-giant said that gamers can link their Amazon account to the game, and purchase T-Shirts, hoodies, phone accessories and throw pillows featuring characters from the game.

There were 243 hedge funds long Amazon.com, Inc. (NASDAQ:AMZN) in the first quarter. Their total stake value was $25.8 billion.

This is what Baron Funds said about Amazon.com, Inc. (NASDAQ:AMZN) in its first-quarter 2023 investor letter:

“Amazon is probably the best example of a company that was built with an ability to rapidly adapt to change from its very inception. We have written a lot over the years about how Amazon’s culture and organizational structures prioritize and enable rapid innovation. Historically, programming code was written in a sequential waterfall fashion, creating significant interdependencies between different developer teams in the organization and slowing down innovation. Amazon famously required all developers to expose their work externally via standardized Application Programming Interfaces (APIs). A novel and risky approach, it enabled development teams to work in parallel, created a rapid feedback loop with customers, and turned Amazon into one of the most innovative companies in the world. The culture of constant experimentation and the willingness to take risks and fail fast (remember the Amazon Fire phone?) became the core pillars of the company’s culture and led to revolutionary ideas like third-party sales (letting competitors sell similar products alongside your own), Amazon Prime Video, and Amazon Web Services (AWS), making the company a disruptor and leader in multiple multi-trillion-dollar industries.”