In the aftermath of Thursday’s announcements that Facebook was renaming to “Meta” in an effort to “extend the metaverse into reality,” crypto metaverse tokens have been appreciating at a rate of 100%.
Metaverse-related digital assets are the trend now
The price of MANA, the cryptocurrency that powers Decentraland–a hybrid of Minecraft and Second Life – is now $3.39, up by 100% from yesterday’s price.
Since yesterday, SAND, the native cryptocurrency of The Sandbox, a community-driven metaverse where users can create their own NFT gaming worlds, has surged 35%. SAND hit an all-time high of $2.41 in the early hours of the morning UTC before retreating 30% to its current price of $1.73.
The Metaverse Index token is priced in accordance with the values of several underlying tokens linked to metaverse goods, such as SAND, MANA, and AXS–the native token for the Pokémon-styled blockchain game Axie Infinity–which fell 11% overnight to $136.