MMORPG style nameplates

What would be the best method for nameplates above characters’ heads?

I seem to recall someone saying that ScreenSpaceOverlay is best, although I think that world geometry wouldn’t hide nameplates from characters behind the geometry (mountains, walls, etc).

There’s also WorldSpace - but would that mean one canvas per character? That could be a lot of canvases.

I’m really not sure which way to turn with this problem.

Individual world space canvasses would probably be the easiest because you could just parent them to the characters and have them orient themselves to the camera. Seems somewhat wasteful, but I expect the performance isn’t that different than doing it with text meshes.