Metaverse tokens experienced a significant rally in the past 24 hours following the announcement by Apple, the tech giant with a staggering $2.85 trillion market capitalization, regarding its newest product, the augmented reality/virtual reality (AR/VR) headset known as “Reality Pro.”
Sheldon The Sniper went live on his youtube channel and addressed the surge of metaverse tokens:
Is there a pump incoming?
— Sheldon The Sniper (@Sheldon_Sniper) June 5, 2023
There are a few meta verse tokens showing big strength
ETH remains strong , dominance weakening .
Alt coins starting to gain strength?
Full market update incoming
Live in 1 Hour https://t.co/GM2M2Y4tLN pic.twitter.com/bJSDngDOlm
Axie Infinity (AXS), one of the most prominent play-to-earn NFT games in the metaverse, recently released its Origins card game on the Apple App Store in mid-May. The game was previously available in limited regions through the Google Play store and the company’s Mavis Hub. As a result, the AXS token experienced a 10% rise over the past ten days and was trading at $7.14 on June 5, still significantly below its peak in November 2021.
Another notable metaverse token, Sandbox (SAND), which witnessed a staggering 37,000% surge in 2021, was trading 92% below its all-time high on June 5, reaching $0.6 during the Asian-Pacific session. Interestingly, the SAND token has seen a 23% increase over the past ten days, similar to the upward trend observed in Axie Infinity. Over the past three months, the number of SAND addresses has increased, with the top 10 holders out of 228,600 controlling over 75% of the token supply.
While it remains uncertain whether Apple’s “Reality Pro” headset can single-handedly revive the metaverse token sector, the success of this product, expected after mass production in the fourth quarter, could potentially trigger a rally for projects such as Axie Infinity, Sandbox, Decentraland (MANA), and other metaverse-related ventures.
It’s uncertain whether Apple’s “Reality Pro” would be able to revitalize the Metaverse token market. Axie Infinity, Sandbox, Decentraland (MANA), and other ideas mightfind new life if and only if the product is a commercial success following mass production in Q4.
