This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
What happened
The metaverse trend is one that appears to have some real legs. Today, top metaverse cryptocurrencies Decentraland (CRYPTO: MANA), Alien Worlds (CRYPTO: TLM), and The Sandbox (CRYPTO: SAND) each appear to have regained lost momentum.
As of 2:15 p.m. ET, Decentraland, Alien Worlds, and The Sandbox appreciated 8.7%, 3.1%, and 3.8%, respectively, over the past 24 hours.
So what
The metaverse is a generic term to describe virtual worlds. These cryptocurrencies each provide exposure to metaverse games, built on top of (or in combination with) blockchain technologies. Accordingly, investors bullish on the future of the metaverse, as well as the direction crypto is headed, will like the double-dip of aggressive growth exposure these digital tokens provide.
A number of Wall Street analysts have jumped on the metaverse as a place to invest. While most of the Wall Street coverage of the metaverse is restricted to stocks such as Meta Platforms and Roblox, the overall thesis boils over to the crypto sector as well.
Analysts believe that the metaverse could be a major disruptive force, perhaps far in excess of what the market is pricing in today. Visualizing the future of internet-based communication is difficult. However, the growth of virtual economies is staggering, and something analysts are keeping a close eye on.
Now what
The idea of having a second place to engage, communicate, and transact with other individuals is something that's enticing to many. Given the tailwinds provided by the pandemic, there's a reasonable amount of optimism baked into metaverse-related stocks or cryptocurrencies.
Much of this sentiment relates to the future growth of digital assets being traded on the metaverse. Whether it's NFTs or digital real estate, there's money to be made in grabbing a piece of what could be "reality 2.0."
It's perhaps easy for some investors to brush off blockchain-based metaverse games and crypto tokens as likely to lose out to companies like Roblox and Meta. Maybe that's a fair assessment. However, for now, investors appear content to hedge their bets and grab a slice of this entire sector. Personally, I think the metaverse in its entirety is likely to remain a hot commodity for some time. Accordingly, there's no doubt investors will be keeping a close eye on these three tokens for the foreseeable future.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.