Wall Street is getting very excited about the metaverse, and investment bank Jefferies is perhaps the most optimistic.

Its head of Thematic Research, Simon Powell, told CNBC that the metaverse is an investment opportunity similar to that of the early days of the internet. “The thinking is that all the human activity that hasn’t moved online is about to move in the next five to 10 years,” he said.

Business Insider published Tuesday that Simon Powell was interviewed by CNBC’s “Worldwide Exchange” show on Friday last week, after Jefferies published an investigative note saying the metaverse will be the biggest alteration ever seen in the form of people’s lives.

The metaverse is a fuzzy term that refers to a wide range of virtual worlds, in which people use avatars to play games, watch virtual concerts, work, build things, and even buy and sell crypto assets like non-fungible tokens or NFTs.

Social media giant Facebook recently changed its name to Meta to mark a shift in focus towards the metaverse. The move sparked increased interest in the idea among investors and other tech companies.

Like the beginnings of the Internet

Simon Powell said investors should invest in the metaverse as if they were betting on the beginnings of the Internet. That means focusing on hardware vendors; at software providers; then in companies that really operate within technology.

According to Business Insider, Simon Powell recommended that investors think about chipmakers like Nvidia and AMD, saying that the push toward virtual worlds will require a great deal of computing power.

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He recommended to device manufacturers, for example, those who make virtual reality headsets. It is the infrastructure for the next few years, he said.

Powell said it’s still unclear whether the metaverse will be dominated by people like Facebook / Meta or decentralized virtual worlds like The Sandbox or Decentraland.

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Reference-www.eleconomista.com.mx

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