Even the harshest critics cannot deny the exponential growth opportunity for metaverse tokens. Not only are they not completely governed by the same forces behind popular cryptocurrencies, but as time progresses, it’s increasingly difficult to write off the metaverse as a mere ‘fad’ as investors begin to understand where the industry can genuinely lead.
With the metaverse tokens and this recent price action, there is more than meets the eye. Reflecting this sentiment, metaverse tokens have had a flying start to 2023.
In January, Decentraland (MANA) rose by a gleaming +130%, while Sandbox (SAND) and other heavyweight metaverse tokens have joined the rally and risen from +70% onwards, overshadowing the Bitcoin (BTC) and Ethereum (ETH) gains of 40% and 38%, respectively.
Two key drivers explain this metaverse uptrend: firstly, due to strong community engagement, partly driven within the crypto media, and secondly, by virtue of a speculative vision ushered in as the business potential of metaverse tokens has become more apparent than just a year ago.The recent rumors of Apple’s exciting new VR headset are likely some of the critical drivers for the price spike.Read more on cointelegraph.com