Metaverse Tokens Soar Amid Facebook Announcement, SAND Up 158% in a Week

November 03, 2021, 11:00 AM AEST - 3 weeks ago

It’s no secret that the gaming sector is the hot focus of crypto right now, with social media giant Facebook announcing its re-branding to “Meta”. The ripple effect has seen The Sandbox token SAND surge 158 percent since the announcement. And it’s not the only one.

I believe the metaverse is the next chapter for the internet. And it’s the next chapter for our company too.

Mark Zuckerberg, Facebook/Meta CEO

Zuckerberg added: “We’re a company that focuses on connecting people.” He says that “while most other tech companies focus on how people interact with technology, we focus on building technology so people can interact with each other”.

The Facebook name only represents one product, Zuckerberg says. Facebook is rebranding to Meta in order to “encompass everything that we do. Over time, I hope that we are seen as a metaverse company.”

As an example of Meta’s ambitions, a partnership with sunglasses manufacturer RayBan aims to produce augmented reality glasses to interact with the real world for immersive experiences that include: displays, audio, input, haptics, hand tracking, eye tracking, mixed reality, sensors, graphics, computer vision, avatars, perceptual science, AI and more.

Metaverse Tokens Soar Upon News

Although Facebook is building its own metaverse, the news has been bullish for other blockchain-based metaverse projects besides The Sandbox (SAND). Decentraland (MANA) and Axie Infinity (AXS) are among others to have seen big spikes in price since the Facebook/Meta announcement.

SAND token performance. Source: coinmarketcap.com

Celebrities are also starting to enter the metaverse, with rapper Snoop Dogg announcing in September that he will build his own house – or a virtual reconstruction of his mansion, at least – in the Sandbox Metaverse and offer his exclusive NFT collection to fans, perform live concerts and interact with players.

Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.