8 Top Metaverse Companies Around the World and How to Invest

What Is the Metaverse? Three Key Features

The metaverse is a virtual environment separate from the real world, designed to let users participate in a wide range of activities and experiences. People can control avatars to communicate with other users and enjoy everything from gaming to shopping.

Through advanced technologies like VR (virtual reality) and AR (augmented reality), the metaverse delivers a highly immersive experience. Its use cases extend far beyond entertainment and gaming, reaching education, business, art, medicine, and more. Analysts project that the market could grow into a trillion-dollar industry, positioning the metaverse as a potential core of the next-generation digital economy.

Notable industries where the metaverse is expected to gain traction include:

• Entertainment: Large-scale concerts and interactive gaming in virtual spaces
• Education: Remote learning and hands-on training simulations on virtual campuses
• Healthcare: Surgical training and rehabilitation using VR technology
• Real Estate: Virtual property tours and digital real estate transactions
• Finance: Trading platforms and investment services in virtual environments

Metaverse adoption in these industries is expected to drive major shifts in traditional business models and open new opportunities for value creation. Most notably, the metaverse enables global, real-time communication and collaboration, overcoming geographic barriers and promising a significant impact on business and society.

Feature 1: Metaverse-Based Economic Ecosystems

One of the most significant features of the metaverse is the development of its own economic systems. Within the metaverse, users can hold proprietary currencies and assets, purchase goods, and access services. Market principles—supply and demand—operate as in the real world, determining the value of digital assets.

Digital real estate is actively traded in the metaverse, with land in desirable locations often selling at high prices. Avatar outfits, accessories, furniture, and other items are frequently bought and sold as NFTs (non-fungible tokens). NFTs serve as proof of ownership and establish digital scarcity, forming a vital technical foundation for economic activity inside the metaverse.

Marketing and advertising in the metaverse also present new business opportunities. Virtual brand experiences and promotional events offer a more immersive approach than traditional advertising. As a result, the metaverse-centric economy is expected to continue growing as a new form of digital economy.

Feature 2: Leveraging AR and VR

Utilizing AR (Augmented Reality) and VR (Virtual Reality) is essential to enhancing the metaverse experience. These technologies let users immerse themselves in more lifelike virtual environments. VR headsets provide full immersion and 360-degree perspectives, while AR overlays digital content on the real world for blended experiences.

Practical examples include “virtual travel” using AR or VR, enabling users to visit global destinations or historical sites from home. “Metaverse live” concerts in virtual spaces are also on the rise; for instance, Fortnite has hosted live events by world-renowned artists for millions of participants.

These AR/VR-powered metaverse businesses are expanding beyond entertainment to education, healthcare, real estate, and more. In education, students can experience historical events as if they were there. In medicine, VR supports surgical simulations and patient rehabilitation. Innovations like these are expected to further accelerate metaverse adoption.

Feature 3: Web3 Social Networks Driven by Generation Z

The metaverse has become a focal point for next-generation social networking, particularly among Generation Z. Born in the late 1990s through early 2010s, Gen Z is a digital-native cohort comfortable with technology from childhood. They are deeply familiar with digital platforms and have little resistance to interacting in virtual worlds.

Metaverse communication is more diverse than traditional text-based social media. In addition to text and voice chat, users utilize “emotes”—avatar gestures and expressions—for richer, nonverbal communication. The metaverse also makes it easy for users with shared interests to form communities.

For Gen Z, the metaverse is not just a tool for communication—it’s a space for self-expression and social connection. They naturally participate in both real and virtual worlds without strict boundaries. These values and behaviors are shaping metaverse culture and are a key driver of future market growth.

Top 5 Japanese Metaverse Companies

Many Japanese companies are entering the metaverse market, each deploying platforms and services that leverage their strengths. Here are five standout Japanese metaverse companies:

• XANA
• GREE
• Cluster
• NEIGHBOR
• Square Enix

Japanese Metaverse Company 1: XANA

XANA, developed by NOBORDERZ, is a Web3.0 metaverse platform and a recognized leader in Japan’s metaverse sector. XANA’s key advantage is that anyone can easily create metaverse spaces, avatars, or games without technical expertise. Its intuitive interface lets users build their own digital environments, host events, and establish communities.

On XANA, users manage digital item ownership as NFTs, enabling free trading. This opens new monetization opportunities for creators. The platform supports a range of business models, from content creation and sales to event hosting and ad revenue.

As Japan’s first metaverse company, XANA has built a strong track record through collaborations with both domestic and global enterprises and influencers. It excels in entertainment partnerships, providing artists and creators a venue to engage fans in the metaverse. XANA JAPAN’s CEO, Yuji Mizoguchi, also leads BACKSTAGE and is driving digital transformation in entertainment, with further expansion expected.

Japanese Metaverse Company 2: GREE

GREE has made a significant entry into the metaverse through its smartphone app “REALITY.” This platform lets anyone become an avatar and enjoy live streaming and gaming without showing their face—using just a smartphone. Its main appeal is the accessibility of the metaverse without special hardware.

REALITY has exceeded 10 million downloads worldwide, and the number of streamers has grown sharply year-on-year, reflecting its popularity and vibrancy. In response, GREE is planning major investments, with REALITY positioned as a core business pillar.

REALITY’s vision—“Live as you want to be”—gives users a place to express their ideal selves, freed from real-world constraints. GREE plans to expand internationally, especially in Asian markets where live streaming culture is strong, and aims to grow REALITY into a global metaverse platform.

Japanese Metaverse Company 3: Cluster

Cluster is one of the largest metaverse platforms in Japan, with a broad user base. Its main feature is accessibility from smartphones, PCs, and VR headsets, making it easy for users without expensive hardware to join the metaverse.

On Cluster, users can join major events like concerts and conferences or explore persistent worlds and games. They can also create and upload their own avatars and environments, attracting creative users and fueling diverse content creation.

Founded in 2015, Cluster, Inc. has steadily expanded its features. The platform has over one million downloads and more than 20 million total participants, making it Japan’s largest metaverse platform. Major events like “Virtual Shibuya”—a digital recreation of Tokyo’s Shibuya district—have been staged in collaboration with businesses and local governments.

Cluster also partners with global brands such as Pokémon and Disney, raising its profile domestically and internationally. These successes have cemented Cluster’s position as Japan’s largest metaverse platform, with ongoing growth anticipated.

Japanese Metaverse Company 4: NEIGHBOR

NEIGHBOR is a distinctive Japanese company specializing in metaverse production on Fortnite. As Japan’s first creative studio capable of large-scale development on Fortnite, it partners with top creators worldwide. NEIGHBOR focuses on building corporate metaverse spaces on Fortnite—transforming cities and creating original games using Fortnite’s creative tools.

NEIGHBOR’s results are impressive: its “Rocket Ninja” character series has been played over 3 million times, “AI Rokesta-kun” has hosted more than 1 million visitors worldwide, and its haunted house metaverse for a Netflix anime drew over 1.2 million visitors—among other hits.

NEIGHBOR is focused on creating memorable metaverse experiences around the emerging Gen Z lifestyle of “shared online consumption.” Leveraging Fortnite’s massive user base is a key strength. Demand for metaverse production on Fortnite for marketing and branding is expected to grow.

Japanese Metaverse Company 5: Square Enix

Square Enix, known for global franchises like “Final Fantasy” and “Dragon Quest,” is aggressively investing in and developing metaverse initiatives. The company utilizes its development expertise and intellectual property to pursue new value in the metaverse.

A flagship project is “Symbiogenesis,” which integrates 10,000 unique NFT artworks with gaming elements. As Square Enix’s first blockchain game, it has drawn major attention in Japan and abroad. The project aims to offer new forms of digital entertainment by combining NFT ownership with in-game experiences.

Square Enix also partners with “The Sandbox,” an Ethereum-based metaverse platform, and is investing heavily in the space. The Sandbox lets users buy land and create games and content, and collaborations with Square Enix’s popular IPs are anticipated. These efforts mark Square Enix’s evolution into an entertainment leader for the metaverse era.

Top 3 Global Metaverse Companies

Globally, many firms are vying for leadership in the metaverse market, each with unique technologies and business models. Here are three of the most influential:

• Fortnite
• Roblox
• Meta

Global Metaverse Company 1: Fortnite

Fortnite, developed by Epic Games, is a globally popular online game platform with over 400 million users. It serves as a hub for social interaction—especially among Gen Z—beyond just gaming. Its strengths include the battle royale mode, creative mode, party royale, and more, offering users a range of experiences.

Fortnite features three distinct modes, allowing users to choose between competitive play, creative development, and casual socializing. This flexibility appeals to a diverse audience.

A pivotal development was the launch of Unreal Editor for Fortnite and the Creator Economy 2.0 vision. With this, individual creators can monetize games developed on Fortnite, signaling the platform’s evolution into a true metaverse.

The introduction of the creator economy has triggered explosive growth in user-generated content, enhancing Fortnite’s diversity and appeal. As a result, Fortnite is positioned to be a leading metaverse platform for the next generation.

Global Metaverse Company 2: Roblox

Roblox is an innovative online gaming platform and creation service where users can build, share, and play games made by others. Developed by David Baszucki in 2004 and launched in 2006, Roblox is especially popular among young users.

Roblox’s defining feature is its “Roblox Studio” tool, which lets anyone—regardless of programming experience—create games and virtual spaces. It’s accessible to beginners yet robust enough for skilled developers, enabling anyone to become a creator and fueling the platform’s rapid growth.

Millions of user-generated games across genres—action, RPG, simulation, education—are available on Roblox. Users can find content that suits their interests, and creators can monetize their work, with some earning a living through Roblox development.

CEO David Baszucki has hinted at plans to introduce NFTs and increase platform openness. He has described cross-platform movement of digital assets and NFTs as “an ideal,” suggesting future integration of NFTs and cryptocurrencies for a true metaverse economy. This direction highlights Roblox’s continuing evolution as a metaverse platform.

Global Metaverse Company 3: Meta

Meta, formerly Facebook, is a US tech giant that operates Facebook, Instagram, and other platforms serving billions worldwide. The company changed its name to Meta to signal its commitment to the metaverse as the next phase of the internet.

Meta’s greatest asset is its huge, established user base. By migrating Facebook and Instagram users to its metaverse platforms, Meta could quickly build large virtual communities. The company also draws on its social media expertise to create new social connections in the metaverse.

Meta has made the metaverse a core strategic priority and continues to invest heavily. It develops and sells the “Oculus” (now Meta Quest) VR headset, offering high-quality virtual experiences at accessible prices and growing its share in the VR market.

Meta is also developing “Horizon Workrooms,” a platform for business meetings and collaboration in virtual spaces. Using VR headsets, participants can gather in virtual meeting rooms and communicate as if sharing the same physical space. Through these projects, Meta aims to lead the metaverse sector and envisions a future where work, entertainment, and social interaction all take place in the metaverse.

How to Invest in Metaverse Companies

If you want to invest in the metaverse market, buying stocks of metaverse-related companies, ETFs (exchange-traded funds), or mutual funds is an effective approach. The US stock market, in particular, offers a wide range of publicly listed metaverse-related companies, letting investors choose according to their strategies.

Metaverse-related stocks cover everything from major tech firms and metaverse platform operators to VR/AR device manufacturers, game developers, and even infrastructure providers like crypto exchanges. Since these companies have different business models and risk profiles, thorough research and analysis are essential before investing.

The metaverse market is still developing and its long-term growth is not guaranteed. Technical challenges, regulatory changes, and user acceptance all influence its trajectory. Nonetheless, many market experts anticipate strong long-term growth, making the metaverse an attractive investment opportunity.

When investing in metaverse companies, it’s important to take a long-term view. Focus on technical strength, sustainable business models, and market positioning—not just short-term price movements. Always consider your own risk tolerance and diversify your portfolio.

Other Metaverse Investment Strategies

Beyond buying stocks, there are several other ways to invest in the metaverse. Each comes with unique characteristics and risks, so select according to your goals and expertise.

• Metaverse Cryptocurrency Investments

Investing in metaverse-related cryptocurrencies is one way to participate in the market. The value of native tokens used on metaverse platforms can rise as those platforms grow. Notable examples include AXS (Axie Infinity), MANA (Decentraland), and SAND (The Sandbox). These tokens are used for in-platform economic activity—buying digital assets or accessing services. However, cryptocurrencies are volatile and highly risky, so proceed with caution.

• Direct Metaverse Investments

You can also invest directly in NFT items and digital real estate within the metaverse. Platforms like Decentraland and The Sandbox let you buy virtual land, develop it, or host events. Land in popular areas often sells for high prices, making it an attractive investment target. NFT items—avatar outfits, accessories, artwork—can be collected or traded. However, these investments may have low liquidity and be hard to value, so careful research and judgment are essential.

Conclusion: Rising Interest in Metaverse Companies

This article introduced eight leading metaverse companies in Japan and abroad, along with strategies for investing in the metaverse market. The metaverse is a virtual world distinct from the real one, where people interact and pursue economic activity as avatars. Advances in AR/VR, blockchain-based NFTs, and the rise of digital-native Gen Z are making the metaverse more tangible than ever.

The companies featured here are each entering the metaverse in their own way—building platforms, creating content, and developing new technologies. Their efforts suggest the metaverse is more than a passing trend; it could become a foundation for future digital society.

As the crypto market evolves and innovation accelerates, capital flows into the metaverse sector are likely to increase, drawing further attention to metaverse companies. While long-term growth prospects are strong, the sector is still developing and faces technical and regulatory risks.

If you’re considering investing in metaverse companies or NFT assets, take a long-term view, conduct thorough research, and make careful decisions. All investment carries risk, so know your risk tolerance and diversify accordingly. We hope this article deepens your understanding of the metaverse market and supports your investment decisions.

FAQ

What is the metaverse, and how does it differ from virtual reality (VR)?

The metaverse is a network of interconnected virtual platforms emphasizing large-scale interaction and social experiences. VR focuses mainly on single-user immersive experiences via hardware. The metaverse includes VR but offers a broader, persistent virtual world with robust social features.

Who are the most influential global metaverse companies? What roles do Meta, Microsoft, and NVIDIA play in the metaverse?

Meta is building VR platforms, Microsoft is integrating cloud services, and NVIDIA supplies graphics technologies. All three are leaders in the metaverse sector.

Who are the major domestic metaverse companies? What are Tencent, ByteDance, and NetEase doing in the metaverse?

Tencent, ByteDance, and NetEase are leading domestic metaverse firms. Tencent is active in gaming and social areas and has invested in Roblox. ByteDance acquired VR company Pico and developed the Pixsoul virtual social platform. NetEase focuses on AI, VR, and virtual humans.

How can you invest in metaverse companies? Through which channels can you buy their stocks or funds?

You can invest in metaverse companies by purchasing thematic funds or individual stocks through securities brokers on the A-share market, or by selecting mutual funds like those from GF Fund or Harvest Fund.

What are the risks of investing in metaverse companies? What key metrics should you watch?

Risks include market maturity, regulatory uncertainty, and technical feasibility. Key metrics are user engagement, technological innovation, and market competitiveness. Avoid relying on overly optimistic projections.

What’s the difference between metaverse-related stocks and metaverse platform companies? How do you compare their investment value?

Metaverse-related stocks are shares of companies indirectly linked to the metaverse, while metaverse platform companies directly develop metaverse technologies. Platform companies generally offer higher growth potential and investment value.

What’s the outlook for the metaverse industry in 2024, and where are the main investment opportunities?

The global metaverse market grew rapidly in 2024, reaching $128.98 billion. Advances in blockchain, AI, and VR/AR are driving adoption in education, finance, and industry. With increased policy support, the domestic market is expected to exceed RMB 280 billion by 2025. Investment opportunities are concentrated in technology development and industry applications.

How should beginners choose metaverse investment targets? What are some strategies and recommendations?

Beginners should focus on metaverse assets with transparent supply and clear growth prospects, pay attention to institutional participation and market recognition, avoid high-risk small projects, and diversify to mitigate risk.