Chain Reactions: Metaverse tokens Decentraland, Render and The Sandbox clock gains
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The tokens for virtual-world projects Decentraland, Render and The Sandbox are among the gainers on what’s been a pretty flat day in the crypto market all round.
Hold on, isn’t the metaverse a virtually dead narrative? No, not at all. But it, like most other crypto sub-sectors certainly ran out of steam beyond the heady bull-run days of late 2021.
So, it’s been relatively recently dormant, yes, but we wouldn’t be at all surprised to see metaverse froth rise up again if bullish conditions do take hold once again, as some analysts certainly seem to believe they might at some point this year.
And backing up that statement, somewhat, this tweet from long-time Bitcoin advocate Udi Wertheimer has been catching a bit of crypto-media attention this week…
CT is completely oblivious to the fact that Apple is about to launch a mixed reality headset in 3 weeks
Metaverse shitcoins are going to pump so hard it’s not even funny
But you morons keep buying influencer coins
— Udi Wertheimer 🧙♂️ (@udiWertheimer) May 15, 2023
… which points to the fact that Apple, who you might’ve heard of, reportedly has plans to introduce its mixed-reality headset in a matter of just a few weeks.
Could this reinvigorate metaverse crypto tokens? Damn right it could. It may seem a little tenuous, as most, if not all, crypto metaverse projects are nowhere near ready to integrate actual VR headsets.
But all it takes is for a few influential people or companies to start banging on about how Ready Player One style worlds are the future of, like, everything once more and, well, boom – off to the metaverse-token races again. Until it all inevitably dies down once more.
MANA and SAND, the native tokens of Decentraland and Sandbox respectively, actually already experienced price surges earlier this year on this very thing – initial rumours of the timing of an Apple headset venture.
Here are how some of the most prominent metaverse tokens are performing at the time of writing, according to CoinGecko.com…
• Decentraland (MANA), (market cap: US$958 million) +10%
• Wilder World (WILD), (market cap: US$76 million) +10%
• Render (RNDR), (market cap: US$715 million) +8%
• The Sandbox (SAND), (market cap: US$987 million) +6%
• Atari (ATRI), (market cap: US$4 million) +6%
• Magic (MAGIC), (market cap: US$195 million) +4%
(Absolutely not financial advice. Like, der, as if you’d think that anyway, right?)
— Crypto Tony (@CryptoTony__) May 17, 2023
With the overall crypto market cap at US$1.18 trillion, up about 0.4% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.