Source: Canva

In the latter months of 2023, Apple plans to release a device that would alternate between Augmented Reality (AR) and Virtual Reality (VR). But let’s be clear— this device would not come cheap as Apple is known for its high pricing strategy. According to Bloomberg, the mixed reality headset could cost as much as $3000. For some, that’s fair enough. For others, it’s way too pricey! 

But what concerns metaverse tokens like Decentraland [MANA], Enjin Coin [ENJ], The Sandbox [SAND], and Axie Infinity [AXS] with the development? There is a lot, and you could pick it up from the ChatGPT trend angle. If you have religiously followed the crypto market, you would know that tokens linked to Artificial Intelligence (AI) have been in great form since the OpenAI product began gaining traction.

For example, Fetch. ai’s [FET] 30-day performance is a tremendous 119% increase, according to CoinMarketCap. Its sister AI token, Phoenix [PHB], recorded an incredible 136.41% uptrend on ChatGPT traction. Of course, we will not ignore the impact of the bullish resurgence in the market. So, if AI tokens can do this in a short while, why not metaverse tokens in the long term?

Irrespective of the anticipation, you should know that nothing is guaranteed in the crypto market. There have been several cases of “buy the rumour, sell the news.” Take, for instance— the Ethereum Merge, where many investors expected an enormous price increase from the top altcoin. Unfortunately, the opposite was the case as the value significantly decreased.

However, this is a different scenario, especially as the year began with respite around the market. That said, which tokens have the capability to gain from the launch of these devices? Top of the list is no other than MANA. But why MANA? We will get to that in no time.

MANA Could Be “The Central LAND”

Ranking MANA top of the list is no coincidence or mistake. The token, which has had an excellent performance since 2023 began, has all the features that suit a virtual reality launch. If you did not realise before, MANA operates under the Ethereum blockchain but continues beyond there.

Its ecosystem, Decentraland, defines itself as a straightforward Virtual Reality platform. Moreso, the content, experience, and applications under MANA all link to VR. When it launched in 2017 after a $24 million Initial Coin Offering (ICO), Decentaland began using MANA to secure ownership of several assets. Digital assets, including lands, games, and interactive 3D experiences, all formed a part of the collections that MANA helped with. 

But only a few people, including active crypto participants, know that the ERC-20 is not just the only crypto under the Decentraland network. The less-known LAND also plays its part, and platforms like ensure that investors get the full benefit of interactions and governance offered by both tokens.In terms of performance, MANA is still 87.55%, down from its all-time high. 

Meanwhile, In the last 365 days, the token has lost about 65% of its value. However, 2023  started on a solid note for MANA. An assessment of CoinMarketCap, the price tracking platform, revealed that the cryptocurrency had gained 119% in the last 30 days. 

Trading at $0.719, much volume has also been pumped into the Decentraland ecosystem. However, with the upcoming Apple VR launch, it could be way bigger, like the ChatGPT influence on AI tokens. At the same time, you should know that this can only be the case if the crypto market sustains or improves its current condition. If negative occurrences rock the crypto sector, MANA might gain nearly nothing. Either way, nothing is promised. So, ensure to conduct your independent research.

Axie Infinity

Unlike MANA, Axie Infinity, and its gaming token, AXS have enjoyed a more extended stay in the crypto market. In fact, the gaming project was one of the pioneers of NFTs before the 2021 bull market. But for a while, AXS influence in the market had subsided— one has been very notable and unprecedented. Nevertheless, that does mean you should write AXS off.

Interestingly, recent updates from the Axie Infinity team seemed to have displayed a resolve to get AXS and its Ronin network back on track. And it looks like the yield is already showing. At the time of writing, AXS had gained 32.73% in the last seven days. This is more than any of its seven-day performances in 2022. As the Apple VR launch approaches, we may see a surge in the AXS volume and an extraordinary token accumulation.

Also, you should know that Apple is not the only company linked to a VR mission. Its fellow firm in the tech industry, Meta, has also been pursuing objectives within the metaverse space. In fact, it was one of the reasons the Mark-Zuckerberg-led company changed its name, besides the buyout of several products. So, imagine a case where Apple launches and Meta also gets a breakthrough around the same period. If such occurs, these tokens may not be able to overcome incredible uptrends.

Getting the SAND Out of the Box

Source: Unsplash

Lastly, another token on the VR radar would be SAND. Let’s be honest. If we had finished this article without mentioning the virtual gaming tokens, the information here would have been thrash. Well, you may be wondering why it’s that serious. It may even be more severe than assumed.

Although The Sandbox launched it 2011, it struggled to gain adoption, especially as the crypto market was in its very early stages. In addition, it was also one of the first projects to offer a Play-to-Earn (P2E) platform. But as many altcoins gained adoption in 2021, SAND also followed as it hit $7.5 in November 2021.

While its 2022 performance was nothing to be excited about, SAND has left all that behind. In the first few days of 2023, SAND outperformed top cryptocurrencies like Bitcoin and Ethereum. Who would see a 77.51% value increase in 30 days and ignore it? You know the answer— almost nobody. That’s the kind of attention that SAND has brought upon itself. So, with Apple on the verge of its VR device launch, SAND could also join the likes of AXS and MANA in profiting from the event.

In Conclusion

Regardless of the excitement you may get, you should trigger the impulse to buy any of these tokens, as we have repeated that nothing is guaranteed. In ChatGPT’s case, the response from the tokens was not immediate. 

If you expect to make profits immediately from buying any of these assets, we implore you to think again. Of course, the launch of the devices will draw a lot of recognition. But assess the entire situation before taking a stand on investing or not.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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