Why Metaverse Cryptocurrencies The Sandbox and Decentraland Skyrocketed Today
The Sandbox (CRYPTO: SAND) and Decentraland (CRYPTO: MANA) soared 38% and 30%, respectively, on Wednesday as investors' excitement for metaverse-related cryptocurrencies reached a fever pitch.
An increasing number of people believe the metaverse will be the next evolution of the internet. They envision an immersive 3D virtual world in which people work and play, powered by artificial intelligence (AI) and other cutting-edge technologies.
While the idea of a metaverse has been around for decades, the thought that it could soon come to fruition gained steam after Facebook chose to change its name to Meta Platforms (NASDAQ: FB) in October. The social media giant plans to spend as much as $10 billion to develop metaverse-building technologies.
Source Fool.com
