Big banks bet on the MetaverseDecentraland’s native token soars after the blockchain is chosen as the debut spot for the first big bank to enter the Metaverse.
- Its token shot up 17% on Tuesday for its best day since November 24, snapping a six day losing streak and joining in on a broader crypto rally.
- JP Morgan (JPM) has become the first big bank to open a Metaverse lounge as it tries to capitalize on the “limitless” opportunities in the new digital world – and it’s chosen Decentraland as its host, which is quickly becoming one of the most popular VR spaces out there.
- It thinks the Metaverse presents a $1tn market opportunity, predicting that in-game advertising alone will reach $18.4bn by 2027, and saying the risk of “being left behind is worth the incremental investment needed to get started”.
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Game, Set, Match!Is Decentraland the new sporting hotspot? It’s certainly swinging that way after the Australian Open picks its Metaverse as its home.
- Prices soared over the net to bounce up nearly 13% on Monday after spending the last week enjoying a rally that saw prices gain 18%.
- It’s been hosting the Australian Open, one of the world's biggest sporting events, and its closing party on Sunday featured some massive names like Steve Aoki and Tigerlily that drew huge virtual crowds.
- It’s one of the first big sporting events to enter the Metaverse, but it surely won’t be the last. It shows a significant market pivot into the virtual world, and investors are hoping Decentraland will be the one to beat when it comes to hosting.
Party like it's 2022... For Meta or for worseThe New Year is on the way, and what better way to celebrate than with a giant party in Times Square – and you don’t even have to change out of your pyjamas.
- Decentraland is bringing NYE to the Metaverse, which is where all the cool kids seem to be hanging out this year.
- It’s building a virtual One Times Square (where the iconic ball drop happens) in partnership with real estate firm Jamestown, creating what could be the world’s biggest NYE party.
- As virtual real estate continues to soar in value and popularity (a plot of virtual real estate just sold for a record-breaking $4.3m in The Sandbox), this could be just the start of involvement from real-world real estate developers, so keep your eyes peeled.
Mana from heavenCrypto gaming gurus Mana have secured their first round of seed funding, and they’ve got big dreams…
- The fintech gaming firm has won $7m from investors including One Way Ventures, Pillar, and BlockDream Ventures.
- It’ll use the money to create a “complete rewards-driven financial ecosystem” that provides everything gamers need in one place.
- Mana popped 11% last week when the news came up, but has since dropped back. It gained over 60% in November, but is down 30% for December so far.
Dan Meyers / Unsplash
Embassy supremacyDecentraland’s token is in a world of its own, climbing back up towards its ATH after Barbados dives into the Metaverse.
- Barbados is launching the world’s first virtual embassy in the metaverse, and it’s chosen Decentraland as its partner.
- The token lifted 12% on Thursday, now up 400% since Meta’s October rebrand made “Metaverse” the latest buzzword on the market.
- Is its hot streak a flash in the pan? Apparently not, as analysts are bullish on the token's future, arguing that this is only the start of the VR hype.
Anthony Ingham / Unsplash
Decentraland enjoys the meta-buzzDecentraland’s native MANA token holds firm on its Meta-related rally gains, boosted by news of an upcoming auction with partner Sotheby’s.
- Mana rocketed 200% after Meta’s rebrand shone the light on all things virtual. The token – a lesser known crypto used to trade virtual land in Decentraland’s metaverse – actually managed to keep hold of its gains too.
- Sotheby’s will hold its next auction in Decentraland at a virtual office, and it's going to be a big one because it’s allowing live bids in Ether.
- Real-world adoption is a massive price driver for cryptos, and Mana soared 24% on Friday – now up 330% since Meta’s rebrand.
Spreading the Metaverse loveMeta’s (formerly Facebook) (FB) new focus on the metaverse has put the spotlight on virtual reality related projects like Decentraland’s mana token, which spent the weekend soaring to new highs. Mana is a little known crypto that is used to trade virtual land, and its prices lifted 156% on Saturday after building momentum from the rebrand announcement. It wasn’t alone in its 15 minutes of fame, and another small crypto called Sandbox (SANDUSD) has lifted a whopping 340% since the announcement. Vijay Ayyar, head of Asia-Pacific at cryptocurrency exchange Luno, added his two cents:
I read it as an interpretation of a vote of confidence amongst both speculators and investors that this concept of a metaverse is now taking a serious turn in terms of reaching mainstream consciousness and — soon — adoption.
As Meta (FB) brings more attention to the virtual world, this could be just the beginning for those that are in command of the metaverse, so stay tuned. Mana closed Saturday up 375% in three sessions at $3.59, though things have mellowed out since then to trade around $3.141.