Metaverse Penny Stocks To Watch As Traders Look To Buy New Tech

Are you looking for ways to invest in the metaverse? Stocks, in particular, have become one of the popular ways investors are choosing to do so. The emergence of Web 3.0 has brought plenty of excitement and speculation to the market leaving a big question at the forefront. How will companies get their foot in the door of what some call the new internet? This isn’t a new concept. But Meta Platforms (NASDAQ: FB), parent company to Facebook set off a firestorm of interest late last year. That has snowballed into a new industry niche all its own.

Penny Stocks TL;DR 30-Second Summary

• Metaverse stocks are a new topic of discussion in the stock market today
• Penny stocks have given investors a wayto gain exposure to early stage projects
• It’s important to keep in mind that this is a very young area of the stock market. With that can come plenty of risks
• Today we look at a few metaverse penny stocks to watch. Speculation has traders seeking ways to gain exposure to this budding sector

This has brought about plenty of speculation in the stock market today. Even companies with no business or discussion of a metaverse play are gaining interest. That’s mainly based on the “possibility” that they “may” get involved in the future. As the new sector evolves, so will the companies looking to grow. Today we’ll look at a few metaverse penny stocks to watch for January 2022 as investors look to buy this new tech.

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV)

One of the mainstays in the metaverse discussion has been Hall of Fame Resort & Entertainment. Traders originally looked at HOFV stock for a play on esports and iGaming. That has evolved into a Web 3.0 metaverse company of sorts. Whether it’s non-fungible tokens (NFTs) or esports entertainment platform development, there are several ways that HOFV has become one of the metaverse stocks to watch.

We had an opportunity to gain a bit more insight from Hall of Fame Resort’s CEO Mike Crawford.

He told PennyStocks.com “The NFT Space is clearly still in its infancy stage- everyone is trying to take advantage- the keys are going to be access to intellectual property, high-quality creative partnerships, and easy to use consumer distribution channels, and we are trying to unlock all three of those to leverage this into a business that will prosper for our Company for years to come…NFT’s are a business that we need to be in as a Company, and one we believe we can be highly successful in given our position related to the sport of professional football and the athletes and the memorabilia that we have direct access to. In the end, I think digital collectibles will be a space that consumers and fans will be able to enjoy into perpetuity.”

As the conversation about virtual goods and digital assets continues in 2022, NFTs remain a point of interest.

Read: 4 Penny Stocks To Buy For Under $5 With High Short Interest

One of the facets of the metaverse the will likely remain prevalent are digital currencies. Whether it be spending money on a new NFT or some type of virtual good or service, crypto will have its place. As such, you can’t ignore the digital currency industry, miners, and the technology providers involved.

WISeKey utilizes blockchain technology and its microprocessor technology for deployment across the Internet of Things (IoT). Whether it’s drones, smart cities, servers, cybersecurity platforms, and yes, crypto tokens, WISeKey’s IoT has a wide reach and install base of more than 1.6 billion microchips.

This week the company announced it would invest up to $10 million over the next two years, mine Bitcoin from its Geneva data center. Coincidentally, the data center is an old Swiss military bunker located in the Swiss Alps. aiming to adapt cybersecurity technologies to help its customers defend themselves against illicit cryptocurrency mining activities. In using its cybersecurity presence, WISeKey explained that aims to “help its customers defend themselves against illicit cryptocurrency mining activities.”

Further, the actual operations will be handled by a Special Purpose Acquisition vehicle that’s already been created. The vehicle, TrusteCoin AG will install over 1,000 mining rigs, which will get connected to WISeKey’s control center. Though it isn’t a direct play on the metaverse, cryptocurrencies have been closely tied to the new DeFi movement that encompasses virtual worlds.

Sino-Global Shipping America Ltd. (NASDAQ: SINO)

With a name like Sino-Global Shipping America Ltd, you might be wondering if there’s been a mistake. However, like we’ve seen plenty when it comes to penny stocks, these emerging-stage companies focus on building value and adapting to the market’s conditions. In this case, Sino made the decision to expand beyond traditional shipping operations. In fact, it has steadily shifted into the cryptocurrency arena. Like WISeKey, we aren’t talking about virtual worlds but currencies that may have a utility within them. The company has put a particular focus on digital currency mining as well.

Late year, Sino restructured a mining server purchase agreement for 2,783 servers with Hebei Yanghuai Technology Co., Ltd. Yanghuai was tasked with transporting the servers equal to half of the agreed-upon 50,440 t/s in computing power, to Sino’s Ningbo, China office. The company also appointed a new Chief Technical Officer to help develop prospects for its crypto initiative.

Read: Are These Penny Stocks on Your January 2022 List?

Sino has also mentioned a priority on U.S. operations. Newly appointed CEO Yang “Leo” Jie explained that the company plans on leveraging its technology platform and blockchain to create new businesses and complimentary services. With the evolution of the metaverse, it could also extend its reach to the cryptocurrency arena.

The metaverse and related stocks are fresh meat for speculation. But that doesn’t mean you need to be fearful of the higher risk. It means to be more informed with the potential catalysts and sympathy momentum driving some of these stocks. If you’re interested in learning more about metaverse stocks, check out: 101 Ways To Invest In The Metaverse.

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