Apple’s Revolutionary Headset Set to Launch Metaverse Tokens to New Heights
Apple’s soon-to-be-released mixed-reality headset is anticipated to have a significant impact on the metaverse and its associated tokens. According to a report from Apple’s product analyst, Mark Gurhman, the tech giant’s latest headset is set to hit the market on June 5, marking its first major product launch since the debut of the Apple Watch in 2015.
The Metaverse Realm
The metaverse has been facing challenges in gaining traction, but the upcoming headset is generating high anticipation as it could potentially inject life into this virtual world. For those unfamiliar, the metaverse is a three-dimensional space where individuals can engage with each other and digital objects. Despite being hailed as the future of technology, the metaverse has yet to fulfill its promised potential.
The native tokens of metaverse-oriented ventures such as Decentraland experienced significant increases in their worth, partly attributed to rumors surrounding Apple’s potential involvement in mixed reality.
Udi Wertheimer, an autonomous developer, brought attention to this phenomenon in a tweet on May 15th. In a sardonic comment aimed at the impact of memecoins, he proposed that the launch of Apple’s offering could serve as a stimulus for the values of metaverse tokens.
Sebastien Borget, one of the co-founders of The Sandbox, is a proponent of strengthened safeguarding and categorization of digital assets such as cryptocurrencies and NFTs as “property.” As the world becomes more reliant on online activities, Borget stresses the importance of acknowledging the worth of digital assets as valid property. This viewpoint may have implications for metaverse tokens, which are digital assets utilized inside the metaverse.
Metaverse Token Fluctuations
Metaverse tokens have shown a tendency to fluctuate in value, with some experiencing significant increases while others have plummeted by double digits.
According to Decrypt’s latest report, certain tokens associated with prominent metaverse projects have seen explosive growth in the past week, outpacing even Bitcoin and Ethereum. However, Decrypt’s previous report from December 2022 indicated that metaverse tokens, along with the rest of the industry, were still susceptible to the influence of the Federal Reserve, resulting in Apecoin’s double-digit decline over the week.
According to CoinGecko’s latest data, metaverse tokens, MANA and SAND have both suffered substantial price drops. Specifically, MANA has plummeted by 92%, while SAND has fallen by 94% from their respective all-time highs, both of which were reached on November 25, 2021.