By George Ward
Apple has announced that it would launch its much-expected mixed-reality headset in the next few weeks. Many industry experts believe the headset will be a huge innovation in the metaverse sector.
Earlier this year, there was a surge in the prices of metaverse-related tokens, especially Decentraland and The Sandbox. The price surge at that time followed rumors that Apple was about to explore the virtual reality industry.
A Genuine Reason
Udi Wertheimer, an independent developer, shared a similar view via his tweet on May 15. He tweeted on Monday that Apple’s release of a mixed reality headgear explains why there is a surge in the prices of metaverse-related tokens.
However, Wertheimer took a swipe at the surge in prices of the memecoins, stating that there was no genuine reason for their price increases except for the influence of notable figures. Josh Gilbert, a top market analyst with eToro, added that Apple’s new headgear would have a hugely positive effect on the metaverse market because of Apple’s expertise and experience in launching revolutionary items.
He says, “Apple has done similar things repeatedly, and they often get it right.” However, Gilbert disagrees with other experts that Apple’s new headset will catalyze the price surge of other metaverse-related tokens.
Notably, Decentraland and The Sandbox don’t yet have VR tools, even though most industry players consider their tokens metaverse-related tokens. While The Sandbox has no plans (now or in the future) to develop VR tools, Decentraland intends to debut its VR tools soon.
Consequently, Gilbert opines that the metaverse industry is still far from creating a truly immersive experience for players in this sector. The eToro analyst believes that MANA and SAND’s price performance will depend on the broader and faster adoption of the metaverse among many people.
“The truth is, the metaverse ecosystem is still in its early stages. Hence, its fame and adoption will determine the growth and development of the industry in the future.”
The Biggest Launch In 8 Years
Two years ago, when the crypto market was highly bullish, MANA, SAND, and other metaverse-related cryptos soared significantly in price. Many metaverse-related projects received substantial financial backing from venture capitalists following their promise to develop an immersive virtual world for many users.
However, many of them are yet to actualize their promises to date. Even Zuckerberg’s Meta, which spent nearly $14 billion in research and development last year, has yet to make any groundbreaking headway in its metaverse initiative.
Coingecko data shows that SAND is 94% off its peak price set in November 2021, while MANA is 92% off from its all-time high set in the same month. Meanwhile, an Apple product forecaster, Mark Gurham, predicts that Apple’s new headgear will be publicly available for sale by June 5.
Regardless of when Apple launches its mixed-reality headset, it will be the tech giant’s most significant product launch since 2015 when it launched the Apple watch.