Trump’s Magic Falls Short Of Reviving Metaverse Gaming Tokens
By Vishakha Thakur
The metaverse token market, with a cumulative capitalization exceeding $10 bn, had a challenging week. As crypto found no mention in U.S President Donald Trump’s inauguration speech, metaverse tokens faced decline alongside Bitcoin and other altcoins. Major tokens primarily traded in the red, signalling cautious investor sentiment. Axie Infinity’s AXS dropped 3.7%, while Decentraland’s MANA slipped marginally by 0.6%. Floki Inu took the steepest fall at 12.7%, while Sandbox’s SAND dipped 0.5%, and Illuvium’s ILV shed 8.3%.
Well, a major highlight this week comes from LBank, one of the leading crypto exchanges, which introduced the Metaverse HQ token on its Launch Pool. This event offers users a chance to earn 3 mn HQ tokens by simply holding USDT or LBK. Metaverse HQ, an AI-driven questing protocol catering to gaming, DeFi, creators, and meme coin communities, has gained substantial traction as a rewards-based nexus. Backed by prominent names like Consensys and Gate Labs, this project exemplifies how blockchain can be combined with real-world utility.
Simultaneously, on the retail front, Walmart has made another bold move in the metaverse by expanding its partnership with Zepeto, a popular avatar creation platform. Walmart now allows users to purchase physical goods directly through Zepeto’s e-commerce interface. Since launching its virtual clothing line on Zepeto last year, Walmart has recorded impressive engagement metrics, including 3.5 mn virtual try-ons and 1.3 mn purchases. The numbers speak for themselves.
Meanwhile, in Australia, PrimeSphere PTY LTD, a trading firm, has announced the launch of the Prime Sphere Metaverse, a decentralized platform. With its focus on virtual mining, gaming, marketplaces, and social interactions, the platform emphasizes user-driven governance through its DAO model. PrimeSphere’s native token, PST, is the backbone of transactions, enhancing the platform’s usability. Interestingly, PrimeSphere’s roadmap promises initiatives such as digital real estate, NFT trading, and other customizable features in near future.
Education, as usual, continues to embrace metaverse. Valued at $5.6 bn in 2023, the metaverse in education market is projected to reach a staggering $69.4 bn by 2030, driven by immersive learning technologies and virtual environments as per a report by market and markets.
From market volatility to innovations in gaming, commerce, and education, the metaverse continues to evolve. Let’s go to crypto analyst, Ekta Mourya, to hear more about the current trends and outlook.
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