Undoubtedly, the prospect of looming interest rate hikes in the...

Undoubtedly, the prospect of looming interest rate hikes in the US is acting like a wet blanket and weighing down on the stock market in general, but particularly on the tech sector. Since the NASDAQ peaked in mid-November, many tech stocks have seen their share prices decline heavily. Roblox for example went from its all time high back then of over US$140 to just US$58 last week, and has since recovered to be just over US$67.

You look at the general decline in crypto coin prices in the last couple of months as well and it's understandable that some of our fellow shareholders might be inclined to think now is a good time to take some money off the table. One can be forgiven for thinking there could be a bit of an apex in the market, that is, that for now, prices might have peaked.

Notwithstanding this, there are tech stocks and there are tech stocks. Animoca, currently being unlisted, is somewhat shielded from the brunt of the volatility that is affecting the listed technology sector right now. Also, it's recently just raised AU$500m from the likes of Soros Funds Management and the Winklevosses, at $4.50 a share, valuing the company at around AU$6.9B. That's a lot of money to be invested or deployed to further Yat's and the company's vision, which so far, seems to be paying enormous returns.

When you consider the enormous growth we've already seen and the fact that some analysts believe the metaverse will be a multi-trillion dollar economy of its own in years to come, even a small slice of that pie represents a massive growth opportunity for Animoca from here. In my humble opinion, there's lots of upside still to come.