In the upcoming weeks, Apple is set to unveil its highly-anticipated mixed-reality headset, which many believe could inject new vitality into the metaverse industry.
Back in January, there was a notable surge in the prices of native tokens from blockchain-based metaverse projects like Decentraland's MANA ($50) and Sandbox ($0.52). These price spikes were partially attributed to the swirling rumors surrounding Apple's foray into mixed reality.
Independent developer Udi Wertheimer highlighted this trend in a tweet on May 15, subtly commenting on the absurdity of influencer-driven memecoins while suggesting that the impending release of Apple's headset could serve as a catalyst for metaverse token prices.
According to eToro market analyst Josh Gilbert in an interview with Cointelegraph, the forthcoming headset is expected to cause a significant stir in the markets, largely due to Apple's track record of delivering high-quality products that have a significant impact on the market. Gilbert stated:
However, the analyst expressed some skepticism that the debut of the new headset would represent the pivotal moment that breathes new life into cryptocurrencies related to the metaverse.
It is worth noting that while many cryptocurrency investors immediately associate virtual reality with "metaverse tokens," Decentraland is still working on developing its VR capabilities. Additionally, The Sandbox informed Cointelegraph that it has "no immediate or future plans" to expand its VR offerings.
Addressing this matter, Gilbert, along with many others, acknowledges that achieving a fully immersive metaverse experience is likely to take a considerable amount of time. He draws a parallel to the gap between the initial release of the iPhone and the eventual availability of apps that fully utilized the device's capabilities.
In his perspective, the success of metaverse tokens such as MANA and Sandbox's SAND ($0.52) token will heavily rely on the widespread adoption of the metaverse by everyday users.
During the crypto bull run of 2021, the metaverse and its associated cryptocurrencies, such as MANA and SAND, experienced a surge in popularity. Numerous projects, supported by substantial venture capital investments, made ambitious claims of creating revolutionary immersive virtual worlds for users.
Regrettably, several of these companies, including Meta led by Mark Zuckerberg, who allocated $13.7 billion to research and development in 2022, have yet to witness widespread adoption by everyday users.
At present, the prices of MANA and SAND have fallen by 92% and 94% from their respective all-time highs, which were achieved on November 25, 2021, as per data from CoinGecko.
As per a report by Apple product expert Mark Gurman, the new mixed-reality headset by the tech giant from California is slated to launch on June 5. This marks the first significant product release by the company since the introduction of the Apple Watch in 2015.
