With trading volumes and virtual land prices plummeting over 90% in 2022, this sector is surprising the crypto investing community with its incredible resilience. Previously, many people in the industry predicted that this sector would be a challenge to generate interest again Bitcoin started to rally above $21,000.
Decentraland (MANA), the project with just 32 active daily users, is up 81.9% in just a week and is currently trading at $0.69, leading the trend.
1D price charts of MANA/USDT. Image: Binance
Also, Sandbox’s SAND token is trading higher than MANA after a 41.8% surge at $0.73.
Recent updates in early December 2022 and the debut of Homeland, the version of the game using land NFT, have fueled the surge in Axie Infinity (AXS) tokens.
AXS/USDT 1D price charts. Image: Binance
Immutable X (IMX), a blockchain platform serving as a Layer 2 fast solution for Ethereum, is up 30.5% over the past week, while Flow (FLOW) is up 33%. These indicate that after the “Great Recession” of 2022, the metaverse is likely to be back on track.
The frenetic virtual world community will have to thank the conventional “giants” who are accelerating this remarkable “turn” as they have generated much interest in the ever-growing discussion of the metaverse.
For example, Microsoft has just confirmed that it intends to improve the user experience through the Metaverse. At the same time, tech giant Apple unveiled its plan to join the metaverse by unveiling its virtual reality (VR) and augmented reality (AR) headsets.
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