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Facebook ad fuels interest in cryptocurrency metaverses

Key facts:

Tokens like MANA and AXS saw growth following the announcement by Zuckerberg.

The metaverse is not unique to Facebook; Decentraland, for example, has been developing it for years.

The announcement of Facebook, now Meta, has triggered interest in everything related to metaverses. Decentraland, a blockchain-based virtual space, has seen the price of its native MANA token grow by more than 400% following the launch of Mark Zuckerberg’s metaverse.

It seems that, now, investors have become interested in this new concept known as the metaverse, which is based on a virtual space with a new way by which people connect and interact with the internet.

The Facebook announcement was made known on October 28, as reported by .. The next day MANA posted a price increase that went from $ 0.87 to $ 1.4, an increase of 80%. For November 1, MANA reached its all-time high above $ 4.95, increasing more than 400%.


MANA’s current growth, despite having reduced, is still almost over 300%. Source: Tradingview.

Along with MANA, other tokens such as AXS, belonging to the Axie Infinity game, also saw an increase after the announcement. In this case, for On October 29, the token reached its historical maximum over USD 164, with a percentage growth of 30%. Subsequently, it was positioned above $ 140.

Although Facebook (Meta) caused a stir by announcing the development of its metaverse, it should be noted that this is not and will not be something exclusive to the company. The metaverse is just a concept that defines a new way of interacting with the internet.

Multiple projects and companies have been developing their own metaverses, such as Decentraland. Its objective is to create a virtual world, in which users can buy their own spaces (LAND), which they can customize to their liking.

Facebook aspires that the participants of its metaverse connect through virtual reality devices. In the case of Decentraland, users can connect to it through a computer.



The development of Facebook aspires to be able to conduct online meetings using 3D avatars. Source: Facebook.

NFT Oasis, another cryptocurrency project that is developing its own metaverse, does allow interaction through virtual reality. An example of this was a Jazz event, reported by ., in which several NFTs were auctioned through virtual rooms in NFT Oasis. Users could connect and trade the collectible tokens, all within a virtual chat room.

Play2Earn games in the Metaverse

The metaverse is not just about connecting and interacting with other people. As proposed by Facebook, iconic games, such as Grand Thef Auto: San Andreas, will be adapted so that players live the experience in virtual reality within Meta.

Within the metaverse of the cryptocurrency ecosystem, play-to-earn (P2E) games can have an important role, this based on the current interest they have in general. The example of this is Axie Infinity, which, in this bull run in the market after the Facebook announcement, experienced an increase in one of the tokens of its platform.

For now, general interest in the metaverse remains to be seen. Although MANA still maintains the rise it experienced, everything seems to be motivated by simple speculative interest in the rise and public exposure that metaverses have had lately.

About the author

Donna Miller

Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

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