Cryptos like Metaverse, Decentraland, and Axie Infinity are on the rise after Facebook announced it was rebranding and shifting its focus to the virtual world. Meanwhile, the price of Metaverse tokens has risen.
Crypto investors are acquiring Metaverse coins, following the announcement of Facebook’s name change to “Meta” on Thursday.
Zuckerberg explained that the focus would shift from traditional social media to creating the Metaverse. But the mission is to remain the same. It’s still about bringing people together.
During Facebook CEO Mark Zuckerberg’s presentation on the company’s future, he said, “We’re still a company that builds technology with people in mind, but now we have a new North Star to help us bring the Metaverse to life.”
While many coins have jumped from this news, Decentraland seems to have made the biggest jump. The MANA token has increased by more than 46% since the announcement of the Metaverse game project.
Metaverse refers to the virtual world on the Internet of the future. It will be a virtual space where everyone will be connected to everyone else. It creates a virtual universe where users can meet, play games and socialize.
Zuckerberg said he believed Metaverse would be “the successor to the mobile Internet.”