Ever since Facebook rebranded its parent company as Meta Platforms (NASDAQ:FB) last autumn, there has been a tonne of interest in the metaverse and finding a stock or cryptocurrency to buy that can help investors gain exposure.

After seeing how fast the cryptocurrency industry has grown over the last two years, and because of the visionary that Mark Zuckerberg is, it makes sense that the market’s interest in metaverse stocks is now so high.

Meta Platforms is by no means the only company or organization working on building a metaverse and capturing all the potential that exists, though. In fact, there are already several metaverses that exist today, and investors and users who have found these high-quality projects early have been able to earn a fortune.

Because there are so many projects, there are many different cryptocurrencies and stocks you can buy if you want exposure to the metaverse. However, since there is so much risk investing in the metaverse concept this early, rather than Meta Platforms, you may want to buy this cryptocurrency instead.

Here’s why Ethereum, the cryptocurrency, could be a better buy for metaverse exposure

The concept of the metaverse is not something that’s necessarily new. However, because metaverses have never really become mainstream, it’s still very early to be investing in the industry.

As I mentioned above, there are several companies and communities building or developing their own metaverses, and many already exist and are growing by the day.

But because it’s so early and there’s so much competition, while that means there’s a lot of opportunity for investors, there’s also a massive amount of risk. There are inevitably going to be virtual worlds that are created and that don’t gain much popularity. So there will likely be many investors in the space that will ultimately lose money.

This is why instead of looking to buy a single stock or cryptocurrency for metaverse exposure, investing in the long-term potential of Ethereum‘s (CRYPTO:ETH) blockchain looks like a much better buy today.

Many of the virtual worlds and metaverses are already being built on Ethereum’s main network, which is why it offers so much opportunity. This way, even if the majority of virtual worlds don’t gain popularity and investors of those metaverse cryptocurrencies lose money, the price of Ether could continue to gain.

Furthermore, there is a lot more potential than just the growth of metaverses when investing in Ethereum. You will also gain exposure to the growth in DeFi, NFTs, and any other of the brilliant innovations created by smart contracts, which we continue to see in the crypto space.

Bottom line

Meta Platforms may be a great company and worth an investment. However, if you’re looking to gain exposure to the potential that the metaverse has, Ethereum is the best stock or cryptocurrency to buy, in my view.

It offers exposure to several high-growth industries. Plus, it’s expected to get its most significant upgrade ever this year, which should address many of its current drawbacks.

So while the high-quality cryptocurrency trades 35% off the all-time high it reached just three months ago, it’s one of the best investments you can make today.

The post Forget Meta Platforms Stock: Buy This Cryptocurrency for Metaverse Exposure appeared first on The Motley Fool Canada.

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Fool contributor Daniel Da Costa owns Ethereum. The Motley Fool owns and recommends Ethereum. The Motley Fool recommends Meta Platforms, Inc.

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By: Daniel Da Costa
Title: Forget Meta Platforms Stock: Buy This Cryptocurrency for Metaverse Exposure
Sourced From: www.fool.ca/2022/02/11/forget-meta-platforms-stock-buy-this-cryptocurrency-for-metaverse-exposure/
Published Date: Fri, 11 Feb 2022 19:27:00 +0000

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