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Metaverse’s popularity has grown significantly after it got reintroduced by Facebook’s Mark Zuckerberg. It seemingly has become some sort of a go-to place for investors as of late as this includes proponents of cryptocurrency.
Several cryptocurrencies that are connected to the metaverse are gaining traction as of late and have piqued the interest of crypto investors. This is because this has aroused these investors’ curiosity about the disruption potential that was given by different blockchain networks in this count.
The Sandbox, Alien Worlds, and Decentraland
On November 19, three of these digital assets – The Sandbox (SAND), Alien Worlds (TLM), and Decentraland (MANA) saw gains of 5.5%, 4.2%, and 14.5% respectively.
At the minimum, a piece of the price action on that date among the above-mentioned cryptocurrencies is pretty much noticeable by the plethora of greens within the crypto charts. It may well seem that investors are taking the chance on an approach to growth during that period, with a lot of so-called hyper-growth sectors trading more than usual. Further, both cryptocurrency and stocks that are concerning the metaverse have been observed to have satisfactory price action as traders have seemingly distinguished what appears to be a sustainable momentum trade.
Additionally, The Sandbox, Alien Worlds, and Decentraland stocks are pretty much identical to what it was in October. It was learned that the root cause of such an ascending momentum may well seem to be the late-October or an early-November move propelled by substantial movements from different big tech firms aiming for the metaverse.
In October alone, The Sandbox, Alien Worlds, and Decentraland were on a surge by 454 percent, 35%, and 419% respectively.
On the Ethereum blockchain
For the uninitiated, these mentioned cryptocurrencies are fueling several online games. Each of them is either at least connected to or built upon the Ethereum (ETH) blockchain in one way or the other. Moreover, this enables users to monetize their experience through the collection of cryptocurrencies in-game or non fungible tokens (NFTs).
That said, the metaverse happens to give a rather broad range of investment possibilities for growth-seeking individuals. Currently, one of the essential places investors are heading to for some insane returns is the cryptocurrency space.
As of publication, The Sandbox, Alien Worlds, and Decentraland prices sit at $4.17, $0.374420, and $3.86 respectively.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
