On the whole, the net market capitalization of metaverse tokens grew 13.40% to $12.36 billion over the previous 24 hours. Metaverse tokens and their performance in the last 1 and 24 hours.
Other metaverse projects and their tokens, notably the Sandbox (SAND), Illuvium (ILV) and Division Network (DVI), also rallied strongly, confirming a price boom across digital assets that specifically focuses on virtual reality services. AXS serves as legal tender in the Axie marketplace, where players use it to purchase in-game NFTs (digital pets). Source: TradingViewĪt the same time, Axie Infinity’s native token, Axie Infinity Shard (AXS), also rallied by over 20% to hit $150 for the first time in two weeks. “We can expect unique NFT and metaverse innovations tailored to Meta in the coming months.”Īxie Infinity, a Pokemon-styled “play-to-earn” pet training game and virtual world, also saw its market valuation increase by around 10% in the past 24 hours, from $7.74 billion to $8.40 billion. The company’s chief executive officer, Mark Zuckerberg, said it will from now on be “metaverse first, not Facebook first” following the latest rebranding.Įmil Angervall, co-founder and chief operating officer of music tech startup Corite, told Cointelegraph that Meta poses extreme upside opportunities for the still-emerging nonfungible token (NFT) space.Ĭalling it a highly liquid venture, Angervail stressed that Meta would eventually collaborate with existing NFT projects in the space, which would help the crypto sector, on the whole, to come into the mainstream. Traders started rushing into the Decentraland market after assessing Facebook’s foray into the virtual world sector.
Source: TradingViewĪt its intraday best, the Decentraland cryptocurrency was changing hands for $1.227 on Oct. This happened as its native token, MANA, jumped by around 45% to $1.14 in the same period. 28 to rebrand itself to Meta - to indicate its plans to build an avatar-filled metaverse - helped spark a speculative rally across cryptocurrencies that belong to similar virtual world projects.ĭecentraland, a virtual place with its own economy, currency (MANA) and social events - accessible to anyone with a web browser - saw its market valuation explode from $1.44 billion to $2.08 billion over the past 24 hours. The net market capitalization of metaverse tokens grew 13.40% to $12.36 billion in the past 24 hours.įacebook’s decision on Oct.
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