At the most basic level, cryptocurrency and stocks have similar purposes — investing. It is no wonder that at the intersection of crypto and stocks are web3 stocks. Web3 stocks present a way for investors to gain exposure to crypto without actually having to hold it. Therefore, they are more feasible for those who are not accustomed to the web3 world. Here is a guide to some of the best web3 stocks on the market.
KEY TAKEAWAYS
➤ Web3 stocks provide a way to invest in cryptocurrency-related technologies without directly holding digital assets.
➤ Key players in the web3 ecosystem include Coinbase, Apple, IBM, Nvidia, and Unity, each contributing uniquely to blockchain, AI, and metaverse advancements.
➤ Web3 represents a decentralized, blockchain-driven future iteration of the internet, aimed at enhancing user privacy, freedom, and autonomy.
➤ Investing in web3 stocks offers portfolio diversification and exposure to cutting-edge technologies, despite the nascent and experimental nature of many web3 applications.
Best web3 stocks
There are many web3 business opportunities worth considering. All the companies on the list have earned a good degree of public support from the crypto community. However, we urge you to also do your own research and make responsible, level-headed decisions.
1. Coinbase Global, Inc. (COIN)
Every industry benefits from flagship companies that the public trusts and that showcase the ecosystem’s most positive traits. With over 100 million users, the Coinbase exchange is one such business for crypto. In 2012, Coinbase was founded by former Airbnb engineer Brian Armstrong.
In the subsequent years, it became one of the go-to places for trading crypto. It is responsible for serving as a gateway into the crypto world for millions of users. This has made it successful. Very successful. In fact, between Q1-Q3 2024, Coinbase earned a total revenue of about $3.2 billion.
Coinbase is directly involved in web3 in quite an obvious way. On the one hand, of course, it indirectly supports many of the developing blockchain companies by helping sell or secure their tokens and coins.
Coinbase’s venture capital, Coinbase Ventures, has directly supported the development of blockchain companies such as Solana and others. These are crypto businesses that operate on the basis of helping establish the infrastructure of web3.
Furthermore, Coinbase has wisely chosen to attack itself on the decentralization concept shared by most web3 enthusiasts. Since its inception, the company has added many earn features such as staking and the Base blockchain.
There’s also a hot wallet app available. It has a number of functionalities, for example, being able to purchase NFTs directly from marketplaces such as OpenSea.
Is Coinbase web3 stock a good investment in 2024?
Coinbase shares can be traded just as with any other public company. Much of its popularity is intrinsically tied to the appeal of cryptocurrencies and the services it offers. This is an important detail to consider before making your investment decision.
2. Apple Inc. (AAPL)
Had you invested $1000 in Apple stock a decade ago, you would likely feel pretty good about yourself. Your stock would be, at present, worth nearly eight times your initial investment. The decision would have been even more profitable had it been taken a few decades ago.
This is all because, indeed, Apple has been involved with some of the most exciting technological innovations of recent decades. It has also been one of the most profitable companies in the world. In 2021, for example, Forbes listed Apple as the most successful American company.
So, what does all of this have to do with web3? While Apple has not directly called out its support of blockchain tech, observers remark that this may merely be a matter of time. Indeed, for decades, Apple has led the way or, at least, moved alongside tech developments.
Simply put, it is hard to imagine that the company responsible for the iPhone, iPad, and Mac computers would be missing from this brave new world.
Yes, over the past couple of decades, Apple positioned itself as a technological maverick. However, no company can afford to ignore the market and its competitors. Samsung, for example, has seemed to embrace blockchain technology and modern DApps.
Apple has not responded in the same way, but it will unlikely be unable to do so for much longer. Apple Pay integrating web3 is a highly anticipated move from the company.
Is Apple web3 stock a good investment in 2024?
Naturally, its price fluctuates significantly over a period of time. However, Apple stock has been, in many ways, the flagship when it comes to this type of investment.
After all, this was the first company to be worth $3 trillion in value, and two in three Americans own at least one Apple product. It is difficult to envision web3 without the involvement of Apple in some important capacity.
3. International Business Machines Corporation (IBM)
Speaking of tech giants, we would be remiss if we didn’t mention IBM stocks. The company was started in 1911 and, in many ways, remains the most famous computer brand in the world. For over a century, IBM has been among the leaders of computing companies.
However, in many ways, IBM is also a sleeping giant. It has long ago taken a step back from the commodity markets and moved into higher-margin services. Still, the company has already shown its intentions of moving along with the times. Its involvement in web3 seems like an inevitability, as the company still has plans for web3 intagration.
IBM continues to be a leader in data and analytics. The company also continues to sell computer hardware, middleware, and software. In terms of overall value, IBM is still one of the largest companies in the world, alongside the likes of Microsoft, Amazon, and Google.
Is IBM web3 stock a good investment in 2024?
It is IBM’s commitment to studying artificial intelligence and analytical software that makes the company of particular interest to our discussion. These efforts will likely lead to tremendous development for web3. The ultimate goal is to help foster a much greater level of internet connectivity.
In other words, IBM could help radically transform the way in which computers lessen the burden on human employees in the future. The company has long been involved in scheming a way toward leading the world into an even more highly automated future.
The history of the company, as well as its plans, help make it a hot prospect for the future. IBM could well retain its status as one of the most important companies in the world even as web3 becomes a reality.
4. NVIDIA Corporation (NVDA)
Nvidia is a computer company that is a great web3 stock and will be intrinsically linked to the development of the fabled web3.
Yes, Nvidia is primarily known for the graphics processing units (GPUs) that it produces and that are used by gamers throughout the world. However, the company has also benefited tremendously from the rise of the crypto market and artificial intelligence. They are responsible for many of the cryptocurrency mining operations that are helping maintain the crypto ecosystem.
Nvidia began its activity in 1993. It was known for developing its innovative chipset technology. The Californian company soon became the global leader in the production of integrated circuits that are widely used by gamers in both consoles and personal computers.
Nvidia has invested massively in the pioneering fields of artificial intelligence and machine learning. The company refers to this endeavor as deep learning. It involves the automated use of speech recognition, object detection, language translation, and others.
Is Nvidia web3 stock a good investment in 2024?
Ultimately, Nvidia hopes to increase automatization greatly. This may appear to have potentially harmful effects on workers in the short term. After all, it will mean that more and more tasks will be carried out by machines.
However, there is certainly a silver lining to all of this. Enthusiasts of the experiments believe that this will lead to a great degree of decentralization in web3. At its best, the use of AI will help replace various third-party intermediaries from the crypto ecosystem and elsewhere.
While a lot of this may well be in its experimental stage, clearly, the company is dedicated to moving along with the times and helping to remain a highly innovative company in the future.
5. Unity Software Inc. (U)
Unity Technologies was founded in 2004 in Denmark. The company later relocated to San Francisco and became one of the most important names in the video game industry. This is largely due to Unity, their licensed game engine. Many of the world’s most popular video games and applications use it.
This was big enough business as it was. However, in 2018, Unity Software announced plans to expand aggressively. This means that they’ve invested large sums of money in developing applications for new platforms and consoles. They have also turned their attention toward virtual reality. And, yes, they are very interested in web3, in particular in the so-called metaverse.
The metaverse, of course, is a proposed future iteration of the internet where virtual reality and augmented reality will be used on a large scale, facilitating connectivity. Many of the world’s leading tech companies have shown a willingness to develop their centralized versions of this.
Other developers will respond with decentralized alternatives. However, they will all need assistance from the likes of Unity Technologies.
Yes, it looks almost certain that Unity will be an important player in web3 gaming. They might be one of the companies providing the development tools to turn this dream into a reality. Naturally, this will have a large bearing on the manner in which the company itself develops.
Is Unity web3 stock a good investment in 2024?
Yes, it is true that the stock price for Unity has decreased over the past years. However, the same can be said of some of its direct competitors, such as Matterport. The underwhelming results may well just be a reaction to the public cooling some of its previously inflamed interest in the metaverse.
Still, with so many applications involving this virtual reality internet world already underway, there are reasons to be optimistic and to have this on your list of web3 stocks to watch out for.
Top web3 stocks compared
It is difficult to compare the top web3 stocks based on products and services. However, we can compare them based on valuation and financials. Here is a brief comparison that you may find of interest.
| Stocks | Ticker | Market cap. | Dividends |
|---|---|---|---|
| Coinbase | COIN | $80.87 billion | No |
| Apple | AAPL | $3.47 trillion | Yes |
| IBM | IBM | $204.45 billion | Yes |
| Nvidia | NVDA | $3.47 trillion | Yes |
| Unity | U | $9.52 billion | No |
What are web3 stocks?
Web3 companies are businesses that develop products and services related to distributed ledger technology and cryptocurrency. In the same way, you can invest in tech stocks, you can invest in web3 stocks.
What is the fabled web3 anyway, and how does it connect to cryptocurrencies? Simply put, it is the idea that one day, blockchain tech and its principles of decentralization will spearhead a new internet, often dubbed the web3.
What’s the meaning behind the term? Colloquially, the first iteration of the internet, in its most disorganized style, was branded Web 1.0. The Dot-com boom of the 2000s is thought of as Web 2.0.
The third, improved version of this would involve a greater degree of freedom, greater power, and increased privacy for regular users through the use of blockchain technology.
Big-tech and web3 applications
Web3 applications are still in the early days of conceptualization. It is increasingly clear, however, that big tech companies need to innovate. Some tech firms have already declared their interest in blockchain tech, and there are others that are experimenting with aspects such as AI and virtual reality.
Some tech giants are still standing on the sidelines. However, increased competition and technological advancement will likely force them to take a stand. This provides more motivation to invest in web3 stocks.
Why should you consider web3 stock investments?
Web3 remains a very novel concept. Most companies are still learning how to best implement experiences, products, and solutions that will engage customers and audiences for a long period of time.
However, the conviction is there, and numerous reasons are being poured into the development of web3 solutions. There’s no doubt that web3 will become a significant part of our lives in the future, and there are several major companies that are working on related initiatives. If you want to diversify your portfolio, you can’t go wrong with web3 stocks.
This article is not investment advice, it is for informational purposes only. Cryptocurrency and stocks can be volatile and you can lose money. Invest wisely.
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