Metaverse Tokens Soar Following Facebook’s Rebrand – Forbes

Metaverse Tokens Soar Following Facebook’s Rebrand – Forbes

Metaverse-related tokens took off shortly after Facebook FB announced Thursday it would rebrand itself as Meta in a bid to reorient itself around augmented and virtual reality-charged future. 

The category’s market cap shot up by 262.9% in the past 18 hours and now stands at $13.4 billion, according to cryptocurrency data aggregator CoinGecko. 

Half a dozen coins, including some of the largest like MANA, Ethereum token powering the Decentraland virtual reality platform, and STARL, a native asset of the namesake decentralized virtual space project, are up by more than 50% on the day. The largest gainer of the day is ETHV (Ethverse), token of a virtual universe built using the Minecraft gaming engine and Ethereum blockchain, with a 112.8% increase. 

Token of popular NFT-based online video game Axie Infinity, which has generated more than $7.5 billion in
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