Is the Metaverse a wet dream for investors? Cryptocurrency traders seem to think so (December 4, 2021)

Virtual worlds are invading the world of cryptocurrencies. The prices started to increase after Facebook’s announcement in October that it would rebrand as Meta, with a new mission that aims to "bring the metaverse to life." Facebook’s announcement spawned interest from corporations, real estate investors, venture capitalists and even nations as they raced to claim their stake in what apparently is the next big thing.

The Sandbox, an Ethereum based virtual gaming platform, saw its SAND token jump from $1.55 to $6.79 in November, an increase of about 350%. And then Adidas jumped on:

https://twitter.com/adidasoriginals/status/1462873002350202882

That clearly shows that traditional companies, with a lot of money to invest, are now opening up to the Metaverse as well. Obviously companies like this use platforms like Facebook to advertise their products, so I assume this does really have to do with the announcement by team Zuckerberg.

The Metaverse is basicly a digital world combining elements of augmented and virtual reality, the internet, gaming, art, culture and social networking. Participating in these worlds usually requires a user to use cryptocurrency tokens or purchase objects in the virtual world, which are typically sold as non-fungible tokens (NFTs). And those NFT's are the hottest thing to invest in right now.

Competing Metaverse project Decentraland’s MANA token rose from $2.81 to $4.67 during the month, a gain of 66%, according to data provider Messari. Decentraland also made headlines in November when the country of Barbados said it was preparing to establish a virtual embassy in Decentraland’s Metaverse, bridging the worlds of international diplomacy and digital real estate.

Loopring’s LRC token increased 189% after rumors swirled over a Metaverse related partnership with video game retailer GameStop. Additionally, role-playing adventure game Illuvium’s ILV token and art-focused virtual reality project Wilder World’s WILD token jumped 84% and 67%, respectively.

Some Metaverse crypto tokens can be spent only in the Metaverse. In detail, they are tied to and can be bought through each virtual universe’s in-game store. Meanwhile, other tokens are also available on exchanges like WazirX, Coinbase and Binance.

Sources: https://www.coindesk.com/markets/2021/12/01/sand-mana-tokens-surged-in-november-as-crypto-traders-bet-on-metaverse-potential/ https://www.investing.com/news/cryptocurrency-news/top-15-metaverse-coins-with-a-unit-price-under-1-2695820