During the past 24 hours, in the metaverse news sector, you could see the values of cryptocurrencies related to the metaverse, such as ApeCoin (APE) and Axie Infinity (AXS), have increased by about 6%.
The price of APE has increased by 6.3% to $3.88, the price of AXS by 6.9% to $6.41, and the price of SAND by 5.9% to around $0.40. MANA experienced modest gains of 4.4%, putting it at approximately $0.31.
In contrast, the market value of all cryptocurrencies has only increased by roughly 1.6% during the past 24 hours.
The Special Council elections for APE have concluded, and five individuals have been chosen to manage the future ApeCoin project. Otherside was developed by Yuga Labs, the same firm that created Bored Ape Yacht Club. Otherside’s utility token and governance token is ApeCoin.
Square Enix reiterated its commitment to blockchain technology and Web3 gaming in its annual New Year’s message.
The good news for investors comes after 2022, a difficult year for Metaverse-related coins. AXS and SAND were among the worst-performing cryptocurrencies that year, losing approximately 93% of their value.
Yosuke Matsuda, president of Square Enix and publisher of the Final Fantasy series, recently reaffirmed the company’s dedication to the metaverse, resulting in the price increase.
Matsuda stated in the company’s New Year’s letter that blockchain technology was one of the “top three” areas in which the company would invest over the medium term and that the company was “very focused” on this area.
Matsuda stated that 2022 was “a turbulent year for the blockchain environment,” but that blockchain games will “start a new growth phase” in 2023.
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