Apple is set to launch its highly anticipated mixed reality headset in the coming weeks, a development that some believe could breathe new life into the metaverse industry.
In January, Decentraland blockchain-based metaverse project native tokens (MANNA) and Sandbox (SAND) witnessed significant price increasesdue in part to rumors about Apple's foray into mixed reality.
This trend was pointed out in a May 15 tweet from indie developer Udi Wertheimer, who in a backhanded comment about the absurdity of memecoins powered by influencershe spoke of the upcoming release as a potential driver of metaverse token prices.
CT completely ignores that Apple is about to launch a mixed reality headset in 3 weeks
Metaverse shitcoins gonna pump so hard it ain't even funny
But you idiots keep buying influencer coins.
OK
โ Udi Wertheimerโโ๏ธ (@udiWertheimer) May 15, 2023
In a conversation with Cointelegraph, eToro market analyst Josh Gilbert believes that the new headsets will set markets on fire, due in large part to Apple's proven ability to deliver high-quality, market-changing products, stating:
"When Apple does it, they usually do it well."
That being said, the analyst cast some doubt that the launch of the new headphones is the โturning pointโ that revives metaverse-related cryptocurrencies.
It's also worth mentioning that while many crypto market participants immediately correlate the concept of VR to "metaverse tokens," Decentraland is still in the process of developing its VR capabilities. and The Sandbox previously told Cointelegraph that it has "there are no immediate or future plans" to build VR.
Speaking on this point, Gilbert, like many others, notes that a fully immersive metaverse experience is probably still "a long way off," especially when looking at the gap between the initial release of the iPhone and the availability of apps that fully harnessed the potential of the iPhone. hardware. .
In his opinion, the performance of metaverse tokens like MANA and Sandbox SAND token will depend more on the widespread adoption of the metaverse among everyday users.
โThe bottom line is that we are still very early in the world of the metaverse, and its performance will largely depend on the popularity of the Metaverse in the future.
The metaverse and the cryptocurrencies associated with it, including MANA and SAND exploded in popularity during the 2021 crypto bull run as a host of projects, backed by seemingly bottomless venture capital war chests โ promised to create innovative immersive virtual worlds for users.
Related: Epic CEO scoffs at notion that 'metaverse is dead': 600 million come to 'vigil'
Unfortunately, for many of those companies, including Mark Zuckerberg's Meta, which has burned $13.7 billion in research and development in 2022, have yet to see large-scale adoption among everyday users.
MANA and SAND prices are respectively down 92% and 94% from their all-time highs at the time of writing, both reached on Nov. 25, 2021, according to data from CoinGecko.
according to a report From Apple product diviner Mark Gurhman, the California-based tech giant's new earphones will launch on June 5, marking the first major product launch since the Apple Watch in 2015.
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