After the news that Apple would develop a VR headset, metaverse tokens, such as Decentraland’s MANA, are rallying well this week. So causing significant metaverse news.
According to market data from CoinGecko, the prices of several tokens from renowned metaverse projects have grown at a much faster rate than even market leaders like Bitcoin and Ethereum.
MANA, the native token of the popular Web3 game Decentraland, went up a surprising 81.9% last week and is now worth just over $0.72.
Metaverse tokens rally
Over the last week, the native token for Axie Infinity, a game similar to Pokémon where players bring up a team of adorable critters and battle them across an open-world map, went up by 23%. AXS is being sold for $9.06 now.
Immutable X (IMX) is a blockchain platform that operates as a layer-2 solution for Ethereum that is quick. It makes creating NFTs easier for blockchain developers. Since last Tuesday, the platform’s native IMX token has gained 30.5% and is trading at nearly $0.62.
Tinyverse chose Immutable X as its blockchain of choice. It started making its latest game, a building and management game, on Solana, but switched to Immutable X last week because of issues with Solana. Solana had a lot to do with the FTX exchange, which went out of business, and its value has fell by more than 90% ever since.
This week, Flow (FLOW) increased by 33%. Flow is a blockchain built exclusively for NFTs. It is now used by CryptoKitties and NBA-licensed Top Shot digital trading cards. According to the NFT data aggregator CryptoSlam, the sales volume for FLOW-based NFTs increased by a staggering 77% last week, influencing the price of the blockchain’s native token.
Apple entering the Metaverse
The metaverse is a broad phrase that incorporates a variety of topics, similar to Web3. In general, it refers to a new digital environment based on the current internet, in which users will interact with their digital world via virtual reality interfaces.
Apple is rumored to enter the market in the spring with its own hybrid virtual reality (VR) and augmented reality (AR) headset, causing an increase in industry chatter about the term in the past week.
Bill Gates also discussed the metaverse last week. According to him, Web3 technologies are less “revolutionary” than artificial intelligence.
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