The search for multibagger stocks is always on for growth investors. Some investments may win, but many will lose. Accordingly, finding picks that can provide outsized gains is important. In recent years, multibagger metaverse stocks have been among the top choices for investors looking for outsized gains.

Unfortunately, this year hasn’t been very friendly to these investors. Whether it’s crypto-related metaverse projects or a host of stocks tied to this space, it’s been a rough go. Growth is out and defensive value is in. Higher interest rates have induced investors to take a risk-off approach to most assets.

What this has meant is many potential high-growth stocks have taken a hit. Many have given up most or all of their gains from last year’s impressive rally. Accordingly, for those who thought they missed the boat on this past rally, attractive valuations can be had in this sector once again.

For those looking for metaverse exposure, here are three of the top related stocks on my watch list right now.

Multibagger Metaverse Stocks: Nvidia (NVDA)

One of the more prominent chip makers globally, Nvidia (NASDAQ:NVDA) may not necessarily be the most obvious pick on this list. After all, the company itself doesn’t run high-profile virtual world software directly.

However, its high-powered computing chips do provide the ability for other companies and organizations to do so. Thus, Nvidia is often viewed as a “pick and shovel” way to play the growth from the rise of the metaverse.

In some ways, I think NVDA stock is among the best ways to play this sector’s growth. No matter which company one thinks will outperform another in the metaverse, Nvidia chips are likely to power all (or most) competitors. Thus, in this digital gold rush, those looking to strike it rich will need to invest in the computing power to do so. Nvidia provides this in spades.

The company’s high-end graphics cards and custom chips remain integral to this sector as well as other high-growth areas of the market, including AI and crypto mining. Irrespective of who ultimately “wins” the metaverse, Nvidia looks as a multibagger option now.

Match Group (MTCH)

A leading player in the world of online dating, Match Group (NASDAQ:MTCH) is certainly on the fringes of what many would call a metaverse stock. This company benefits from virtual interaction online, and has many metaverse-adjacent type offerings for its users.

One of the key acquisitions this parent company of Tinder has made is that of Hyperconnect, a Korean metaverse startup. The introduction of avatar-based dating experiences in a virtual meeting place took many by surprise.

Indeed, during the pandemic, such an innovation may have taken off. Now, with bars and restaurants fully reopened, many in the dating game are looking for in-person interaction. Accordingly, it’s unclear how well this will catch on.

However, for those bullish on the metaverse, I think Match is an important company to watch. If this virtual dating environment can prove successful, maybe there’s something to this whole metaverse thing. As the proverbial canary in the coal mine, I’ll be keeping my eye on Match as an intriguing way to play the metaverse.

Multibagger Metaverse Stocks: Microsoft (MSFT)

Microsoft (NASDAQ:MSFT) is a no-brainer when it comes to the best metaverse stocks in the market. This company’s Azure web service stands next to Amazon (NASDAQ:AMZN) regarding market share. Around 75% of personal computers around the world operate on Microsoft Windows. The company’s Teams product remains one of the leaders in the world of video conferencing software.

Additionally, the company operates a massively successful video gaming division: Xbox. It also owns Minecraft, which could be considered one of the most profitable proto-metaverse spaces. Furthermore, Microsoft has continued its talks to acquire the video gaming giant Activision Blizzard (NASDAQ:ATVI). These business segments all compound Microsoft’s goal of being a leader in the world of virtual commerce. For investors interested in the metaverse, Microsoft hits on many different angles of how we interact virtually.

Microsoft’s early-stage investments in VR technology, including its HoloLens product, has led to some rather impressive contracts. Over time, Microsoft’s size and deep pockets could make this company a leader in the race for metaverse market share.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.