The Metaverse Tokens Start The Year With A Bang


ApeCoin (APE) and Axie Infinity (AXS) prices have risen by around 6% over the last 24 hours. Coinmarketcap reports that APE has gained 6% to $3.86, Axie Infinity’s AXS has gained 6.74 % to $6.40, and The Sandbox’s SAND has risen 4.8% to $0.40. Decentraland’s MANA has gained 4.44% to around $0.30, a modest gain.

In 2022, these Metaverse tokens were among the worst performers

The announcement came shortly after APE completed its Special Council elections, in which five members were elected to govern the future of the ApeCoin project. The Otherside metaverse project created by Yuga Labs, the creators of Bored Ape Yacht Club, utilizes ApeCoin for utility and governance purposes.

The publisher of video games Square Enix reaffirmed its commitment to blockchain and Web3 gaming in its annual New Year’s letter. The recent good news for investors comes after a brutal 2022 for Metaverse tokens; AXS and SAND were among the worst performers in what was a bleak year for crypto overall, losing around 93% of their value.

Metaverse token price analysis

Bitcoin (ApeCoin)

Currently, the price of ApeCoin is $3.86 with a market capitalization of $1.3B and a 24-hour trading volume of $148 million. The circulating supply is approximately 361,250,000 coins.

In a reaffirmation of its commitment to blockchain technology, Square Enix

Publisher Square Enix’s president recently reaffirmed the company’s commitment to the metaverse. Yosuke Matsuda, the CEO of Square Enix, recently doubled down on its metaverse investment.

Matsuda stated that blockchain technology was one of the company’s “top three” investment areas for the medium term. However, in its New Year’s letter, the company stated that blockchain technology was the area where it was “most focused.” The year 2022 was “a year of great volatility in the blockchain-related space,” according to Matsuda. In 2023, he predicted, blockchain games would “transition to a new stage of growth.”

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