Metaverse related tokens The Sandbox (SAND) and Decentraland (MANA) have seen a surge in price this week, mostly due to Facebook changing its name to Meta and announcing that it will be focusing on building technologies around “the metaverse”.
The metaverse is a vision of the internet, which would be made up of persistent and shared 3D virtual spaces, basically a shared virtual reality. According to an announcement by the company formerly known as Facebook, the metaverse in a broader sense may not only refer to virtual worlds but the entire spectrum of augmented reality.
The Sandbox is attempting to create a metaverse through its mobile game, which is a community-driven platform where creators can monetize digital assets and gaming experiences on the blockchain.
Even though it’s seen a surge in price since Meta’s announcement, CEO at Animoca Brands Robby Yung, which owns The Sandbox, is not happy about being linked with Facebook and its history.
According to MarketWatch Young said “It’s a great endorsement that we’re in a sector that’s poised to break out into the mainstream, but on the other hand, it concerns me because I think part of the vision and the dream for us, at least, with the metaverse is that it’s a very open place and Facebook, unfortunately, doesn’t have a great history of openness.”
Both MANA and The Sandbox saw their crypto prices surge over 200% each this week but they have since lost much of their gains, leading some to believe that, for now at least, the metaverse’s big bang is more of a whimper. According to the latest chart on CoinMarketCap, Decentraland (MANA) has dipped over 40% since its peak:
HUH?
Meanwhile, a new meme cryptocurrency called HUH Token is looking to grab hold of the crypto market with the same flair and community driven inspiration as Shiba Inu or Floki Inu. HUH Token will be available from the 6th of December on PancakeSwap and Uniswap.
Currently, in its pre-sale stage, HUH Token’s creators say the crypto will be more than just a meme token, calling it a “Utimeme” (combining the words utility and meme), and aims to provide real-world value by linking the distribution system to Binance.
Using a unique referral code, holders can refer friends and receive 10% of their initial investment as BNB.
News of the launch is already creating waves, with the creators saying its pre-launch sales were so overwhelming that it caused a brief crash in its payment systems. The company has since partnered up with NOWPayments to ensure future transactions run smoothly.
HUH Token states its unique system will allow its users to earn through two streams of income. BNB and Token.
It is alleged that HUH Token has a legion of followers, a number in the thousands, all of whom are eagerly awaiting the release of the token onto the open market. At this present time, HUH Token is putting itself through numerous circuit audits to be sure to achieve no hiccups and a high level of service for its investors. They say that community care is a big part of what they are about and ensure that the citizens of their HUH Nation always stand to benefit and receive a great service. A belief that runs strong with the unique system they offer.
Story by Zic Zan
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AFP
