Apple will ship its much-anticipated mixed reality headgear in the following weeks, which some say will revitalize the metaverse sector. In January, the native currencies of blockchain-based metaverse projects Decentraland $0.47 and Sandbox $0.50 saw a substantial increase in price, due in part to rumors about Apple’s foray into mixed reality.
This pattern was highlighted in a May 15 tweet by independent developer Udi Wertheimer, who mentioned the imminent release as a potential driver of the metaverse’s token price in a counter-response to the influencer-driven silliness of memecoin.
In an interview, eToro market analyst Josh Gilbert stated that the new headset will set the market on fire, thanks to Apple’s proven ability to provide high-quality market-sliding goods, stating: “When Apple does it, they usually do it right. .” Analysts are skeptical that the debut of the new headgear will be a “watermark moment” that will revive the metaverse-related coin.
It should also be noted that while many crypto market participants immediately associated virtual reality with “metaverse tokens,” Decentraland is still in the process of developing its VR capabilities, and The Sandbox previously told Cointelegraph that it has “no immediate or future plans” to develop them. VR.
In this regard, Gilbert, like many others, believes that a truly immersive metaverse experience is still “a long way off”, especially given the time lag between the iPhone’s initial release and the availability of apps that fully deliver on the hardware’s promise.
According to him, the performance of metaverse tokens such as MANA and the $0.50 Sandbox token will depend more on the widespread adoption of the metaverse among everyday users.
“The bottom line is that we are still in the early stages of the metaverse world, and their future performance will largely depend on the popularity of the Metaverse.”
During the 2021 crypto bull run, the metaverse and the cryptocurrencies associated with it, such as MANA and SAND, soared to prominence as many projects were backed by a seemingly endless war chest of venture capitals that promised to build innovative immersive virtual worlds for users.
Unfortunately, many of these companies, including Mark Zuckerberg’s Meta, which has already spent $13.7 billion on R&D by 2022, have yet to achieve widespread adoption among ordinary people.
According to CoinGecko data, the prices of MANA and SAND are currently down 92% and 94% from their all-time highs, which were both reached on November 25, 2021.
According to Mark Gurhman, Apple product forecaster, the California-based tech giant’s new headset will be released on June 5, marking the first major product release since the Apple Watch in 2015.