Experiencing metaverse FOMO? Consider looking glass labs (NEO: NFTX)

Technological advancements continue to reshape the world and our daily lives. Many things that were limited to fictional movies and stories are now becoming a reality. For instance, traveling to space was once thought to be only limited to astronauts, but a few companies have made steady progress in making this a reality for the general public. The most noteworthy technological development today, however, is the increasing popularity of the metaverse, which is a network of 3D virtual worlds focused on both social connection and commerce. Staying on top of emerging technology trends is a key factor to long-term success as an investor because identifying companies that are likely to benefit from such trends could lead to above-average returns in the future.

The metaverse is becoming a reality with every day that passes and leading tech companies such as Meta Platforms, Inc. (FB), Alphabet Inc. (GOOG), and Microsoft Corporation (MSFT) have already pledged to invest billions of dollars in the next few years to bring it to life. Investors might already be experiencing the fear of missing out on this golden opportunity because the stock prices of these leading tech giants have risen higher and higher over the last couple of years, making them less attractive in comparison to more cheaply valued, younger companies that are positioning themselves to become big winners in the future. Looking Glass Labs (NFTX.NE) is one such company to look out for.

The metaverse will be the future backbone of connectivity

The metaverse grew in popularity as a concept when Facebook announced a corporate name change to “Meta” last year, and this decision by the social media giant has led many investors to believe that the metaverse is all about connecting with friends and colleagues in a virtual 3D environment. However, in reality, social media will just be a single-use case of the technology, and the metaverse could potentially become the next big technology platform in the world. Bloomberg believes the metaverse presents a massive $800 billion market opportunity for tech companies that are willing to invest in developing this technology.

 Metaverse revenue opportunity

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As illustrated above, many different business sectors will contribute to the growth of metaverse, which suggests that companies coming from a range of industries such as gaming, software, social media, and IT infrastructure will enjoy the expected success of this technology in the coming years.

Looking Glass Labs: A young company hungry for growth

Looking Glass Labs, based in Canada, is a technology company focused on NFT architecture, immersive extended reality metaverse design, and virtual asset royalty streams. The company owns House of Kibaa, a leading NFT studio that supports the production of digital assets and tokenization. The company’s royalty stream is derived from world-leading NFT collections. the company also provides services to third-party clients such as NFT marketing, partnerships, branding, community growth, minting services, smart contracts and metaverse integration. In return, the company can earn a share of royalty payments from secondary sales of NFTs. This business model allows the company to create a recurring stream of revenue as Looking Glass Labs will collect royalties perpetually each time an NFT changes hands within a certain ecosystem. In addition to asset design and royalties, the company generates revenue from NFT minting and merchandise sales.

On the back of the recent success experienced with the >C$6 million GenZeroes NFT drop last October, the company has now decided to expand into the metaverse by creating Project Origin. To be successful as a tech company that supports the growth of metaverse, it is imperative to create a hyper-realistic environment for its users, and Looking Glass Labs understands the importance of this as evidenced by the impending rollout of the Origin metaverse. In addition to this, the company continues to look for external opportunities to fuel its growth. On February 24, the company announced the acquisition of the Development Division of LACA Solutions to gain access to LACA’s intellectual property with respect to certain proprietary technologies and also for its highly qualified team of 13 individuals with over 140 years of combined experience in the industry. The company’s focus on acquiring high-quality talent is a good sign as human capital often plays an important role in helping a company grow. This acquisition will support further developments of the Origin metaverse through both front-end and back-end programming, thereby helping Looking Glass Labs make more inroads into the metaverse revenue opportunity.

Stock price movements

Looking Glass Labs’ stock is trading hands at around C$ 0.85, and the stock gained some momentum toward the end of the last week. There seems to be some volume-backed support around the $0.80 mark which is evident from how the stock has bounded off from this level over the last couple of weeks.

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Conclusion

Looking Glass Labs is focused on the metaverse opportunity as well as the significant opportunity that awaits in the NFT market as these digital assets continue to gain traction. The company is led by an experienced group of industry professionals and Looking Glass Labs is on the lookout for acquisition opportunities to acquire both human and technological capital. If the company continues to make progress toward unlocking the metaverse opportunity, investing in this small company today could lead to strong returns.

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