The native tokens of metaverse projects saw a significant price surge after news of Apple venturing into mixed reality. Apple is expected to release its highly-anticipated mixed-reality headset in the coming weeks, causing another surge in metaverse tokens among them Metacade’s MCADE token.
Metacad (MCADE) price has surged by 20% today as the hype on the much anticipated Apple mixed-reality headset builds.
When news first broke in January this year, about Apple’s plans to release a mixed-reality headset, the native tokens of metaverse projects like Decentraland and Sandbox witnessed significant surges in price. The trend was highlighted by an independent developer Udi Wertheimer, who in a hard-hitting comment pointed out the absurdity of influencer-driven meme coins saying it could be the same case for metaverse tokens following the release of the Apple headset.
eToro’s market analyst Josh Gilbert held a similar view to Udi Wertheimer and in an interview with a popular media outlet said that he believes the new headset will likely set the crypto market ablaze because of Apple’s high-quality, market-shifting products. Gilbert however cast some doubts that the success of the launch is critical to the revival of metaverse-related cryptocurrencies.
The majority of crypto participants believe there is a huge correlation between virtual reality and metaverse tokens. That said, it is worth noting that while the Metacade which is just a few months old already started game development on its platform after successfully completing its presale and listing of its MCADE token on several popular crypto exchanges, Decentraland is currently in the process of building its own VR capabilities.
For some history into the correlation between metaverse projects and cryptocurrencies, cryptocurrencies like MANA and SAND related to the metaverse exploded in popularity during the 2021 crypto Bull Run several metaverse projects backed by seemingly bottomless war chests of venture capital created groundbreaking immersive virtual worlds for users.
According to Gilbert, the performance of metaverse tokens will depend on the widespread uptake of the metaverse among everyday users. Generally, metaverse projects receive a lot of support from gamers and game developers who have been at the forefront of giving metaverse tokens real-life utility.
However, while the hype around the highly-anticipated Apple headset is likely to trigger some significant MCADE price movement, it is not certain whether the effect will last since a fully immersive metaverse experience is likely still a long way off going by the gap between the initial launch of the iPhone and the availability of apps that fully integrate with the hardware.