We have not forgotten how loud the storm of metaverse coins was in 2022. Now there is silence. However, we hear different developments from time to time. The last move came from Apple. Let’s look at the details.
Metaverse coins and partnership
The cryptocurrency market is flooding in a sea of red as major assets experience a correction over the weekend. But tech giant Apple seems to have provided relief. All cryptocurrencies except Bitcoin followed a downward trend. But some sectors blossomed amid panic and selling pressure. Metaverse coins in particular have made significant profits. There has been positive price action of assets challenging the general trend in the crypto market. This seems to be related to Apple’s release of its new product, the Vision Pro.
It is possible to consider Apple’s Vision Pro as the company’s first “spatial computer”. The headset will allow users to blend the physical world with the digital world. In this sense, people will interact with applications, content, media in different formats. It will also have the capacity to interact. Projects using blockchain technology to support Metaverse and its platforms seek to achieve the same goals. Because of this, there is an increasing correlation between Metaverse coins and announcements from major tech companies related to the industry.
Which projects stand out?
According to a study by CoinGecko, Apple Vision Pro highlighted the positive performance of Metaverse coins and Augmented Reality tokens. When the study was published, OVR, which is among the metaverse coins, recorded a 168.6% increase after the announcement. In late May and early June, the token climbed from a low of around $0.28 to $0.74. Other small-cap metaverse coins in the industry have made similar gains. VFOX posted a 62% profit between May 15th and June 7th. Metaverse project Somnium’s virtual reality token CUBE rose nearly 40% over the same period.
Metaverse coins with larger market caps gained in value before and after Apple’s announcement, despite making less profit. The Sandbox (SAND) gained 18% between mid-May and June 5. Decentraland (MANA) earned less. Accordingly, there is an 11% increase. As the chart below shows, metaverse coins SAND, OVR, and VFOX are just a few of the tokens benefiting from the launch of Vision Pro. However, Metaverse has been partially affected by the current trend in the overall crypto market. When we look at Kriptokoin.com, some tokens gave back some of their gains after the latest decline. However, these tokens seem to continue to benefit from similar announcements. So the current price drop could be positive for long-term investors.
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