Metaverse tokens have risen in price by 400%

Against the backdrop of the current bear market, interest in metaverse tokens is significantly greater than attention to other categories of digital assets. On an annualized basis, virtual space tokens have risen in price by almost 400%.

Kraken Intelligence and CoinGecko’s new market report for May this year says the top gainers were Decentraland (MANA) up 41%, Sandbox (SAND) up 470%, Axie Infinity (AXS) up 511% and STEPN ( GMT) by 746%. Such assets can be used to pay fees, purchase land, and participate in virtual space management.

The analysts named exchange tokens as the next form in terms of income, which grew by 6%. Other categories recorded negative price action over the same period, ranging from -13% for the main cryptocurrency to -72% for DeFi.

Metaverse-based and blockchain-based games using NFTs have been extremely popular with users throughout this year. Despite the fall of the crypto market, the number of players remains unchanged and reaches about 1 million per day.

Investors continue to invest in the virtual space industry. The DAppRadar report notes that in the first quarter of this year, $2.5 billion was raised to support blockchain-based games and projects related to the metaverse. Investor interest is due to the fact that more than half of all blockchain activity was in gaming decentralized applications.

Unity CEO John Riccitello believes that 2D portals will become a part of virtual spaces and will be interconnected. According to the expert, only 3 areas will remain: sites integrated into metaverses as spaces where users can live; real places with enhanced user experience using augmented reality solutions; portals that will be a small application addition on top of our world — they will perform exclusively utilitarian functions.

Riccitello said all three types of sites would require specialized hardware adapted to cell phones and computers. At the same time, it will be possible to interact with such resources in real time. This means that the structure of the “space” of the site will adapt to the actions of the user.

Do you believe in the future of the metaverses?