The cryptocurrency Metaverse jumped in price after the rebranding of Facebook

The price of cryptocurrency, which can be used in the metaverse, jumped 164% in 12 hours, according to the New York Post on Sunday (October 31), citing data from Coinbase. Decentraland’s MANA virtual reality cryptocurrency reached $ 4.33 on Saturday night; a week earlier it was about 80 cents.

The increase came after Facebook’s rebranding to Meta, reflecting the company’s plan to create a meta-universe, and experts said it had created huge potential in the virtual world market, the report said.

“MANA’s leading position in the metacosm ecosystem is likely to be further strengthened by Facebook’s rebranding and focus on creating its own digital expansion,” said Denis Vinokurov, head of research at Synergia Capital, according to Coindesk. New York Post.

In the Decentraland meta universe, users can purchase digital art or create a virtual social world. It can be accessed using digital tokens, the report said.

Read more: Facebook is changing the brand to Meta to join Metaverse

The change of the name of Facebook to Meta was announced on Thursday (October 28) at the augmented and virtual reality conference Facebook Connect and demonstrated the company’s desire to get rid of its origins on social networks, according to PYMNTS.

“Today we are seen as a social media company, but in our DNA we are a company that creates technologies to connect people, and the metacosm is the next frontier, just like social networks when we started,” said Facebook CEO Mark Zuckerberg. . letter.

Read more: Gaming platforms that bet on Metavsesvit as the next Internet

Facebook is not alone. Industry and society are moving to a new experience in futuristic online “worlds” with functioning economies, where real and virtual events are mixed in the evolution of a social media-style community and increasingly commerce, PYMNTS said in September 2020.

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NEW PYMNTS DATA: HOLIDAYS OF PURCHASE IN 2021

About: It’s time for holiday shopping, and almost 90% of consumers in the United States plan to make at least part of their purchases online – 13% more than in 2020. Reviewing holiday shopping for 2021, PYMNTS surveyed more than 3,600 consumers to learn more about what drives online sales this holiday season and the impact of product availability and personalized rewards on seller preferences.

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