When there were reports about Apple’s new virtual reality headset, Metaverse tokens went up.
Apple plans to release its much-anticipated mixed-reality headset in the next few weeks. Some people think this could give the metaverse business a new lease on life.
In January, the prices of the native tokens of blockchain-based metaverse projects Decentraland and Sandbox went up a lot. This was partly because of reports about Apple’s plans to get into mixed reality.
This trend was mentioned in a May 15 tweet by independent developer Udi Wertheimer, who in a backhanded comment to the absurdity of influencer-driven memecoins, referred to the impending release as a potential price driver for metaverse tokens.
According to eToro’s market analyst Josh Gilbert, the new headset is expected to make a big impact in the market. Gilbert attributes this to Apple’s track record of producing top-notch products that have the power to revolutionize the market. “When Apple does it, they usually do it right.”
Still, the expert wasn’t sure if the release of the new headset would be the “crucial moment” that would bring back cryptocurrencies related to the metaverse.
It’s also important to note that many people in the crypto market immediately think of “metaverse tokens” when they hear the term “virtual reality.” However, Decentraland is still building out its VR features, and The Sandbox has told that it has “no immediate or future plans” to build out VR.
Gilbert, like many others, says that a fully immersive metaverse experience is probably still “a long way off.” This is especially true when you consider how long it took between the iPhone’s start and the release of apps that fully used the hardware’s capabilities.
From his point of view, the performance of metaverse tokens like MANA and Sandbox’s token will rest more on how many people use the metaverse.
“The bottom line is that we are still very early in the metaverse world, and their performance will rely heavily on the popularity of the Metaverse in the future.
During the 2021 crypto bull run, the metaverse and its associated cryptocurrencies, including MANA and SAND, erupted in popularity as a multitude of projects backed by seemingly bottomless venture capital war chests promised to create ground-breaking immersive virtual worlds for users.
Despite investing a whopping $13.7 billion in research and development this year, companies such as Meta, led by Mark Zuckerberg, have failed to achieve widespread adoption among the general public.
According to data from CoinGecko, the prices of MANA and SAND have plummeted by 92% and 94% respectively from their all-time highs, which were both achieved on November 25, 2021.
Mark Gurhman, an Apple product prophet, has predicted that the tech giant’s new headset will launch on June 5, marking the first significant product launch since the Apple Watch in 2015.
Content Source: cointelegraph.com