Metaverse coins continues outperforming the rest of the market.
This is the case of the tokens of Metaverse projects, Decentraland, and The Sandbox. Notably, these tokens are showing strength this week while the majority crypto market is in dip.
Furthermore, Decentraland’s MANA token is holding above $3, gaining 29% over the past seven days.
Also, The Sandbox, a similar virtual Metaverse is even doing better. More so, the SAND token touches it’s all time high of $3.63 on Tuesday evening.
Furthermore, The Worldwide Asset eXchange (more commonly known as WAX) is also having a good rally. Currently, it has 61% gain over the past week.
Notably, WAX is a carbon-neutral blockchain dedicated to gaming and NFTs.
More so, The Metaverse gaming projects is seeing a boost since last month after Facebook rebrands to “Meta,”. Which of course, signals the company’s interest on building online virtual spaces.
Consequentially, many gaming tokens is seeing massive rallies. Especially, Decentraland and The Sandbox up over 300% since the announcement.
NetEase, Another Chinese Game Giant Consider Entering The Metaverse
Margaret Shi, investor relations director at NetEase confirms the company is “technologically ready” for the space. Also, confirm knowledge on how to accumulate metaverse technology.
Furthermore, as gaming makes up over 70 percent of the company’s earnings. Of course, NetEase net revenue in the third quarter hits RMB22.2 billion (US$3.4 billion). Notably, this is as it sees a year-on-year increase of 18.9%. That’s, online games amassing for 71.62% revenue, touching 15.9 billion yuan (US$2.48 billion).
Additionally, The games Identity V and Onmyouji are NetEase representative works.
More so, Chinese internet tech giants are currently going into the space with games and social media.
Additionally, Tencent also confirms it has “a lot of tech and capability” to move into the metaverse, just as NetEase.
So, it goes on to build new studio for developing metaverse business.
Lastly, the entertainment giant ByteDance, TikTok owner acquires VR glasses manufacturer Pico as a part of its metaverse strategies.