Mixed-reality technology has long been a topic of interest and speculation, with tech giants engaging in a race to bring the next game-changing device to market. In this high-stakes landscape, the long-awaited release of Apple’s mixed-reality headset may prove to be the catalyst needed to revitalize the metaverse industry.
In January 2023, metaverse tokens such as MANA and SAND experienced notable price increases, largely influenced by rumors surrounding Apple’s entry into the mixed-reality market. Moreover, independent developer Udi Wertheimer suggested that this upcoming launch could have a significant impact on metaverse token prices. However, this surge in interest could be seen as a double-edged sword.
On one hand, Apple’s history of delivering innovative, quality products lends credibility to the possibility of the mixed-reality headset having a positive effect on the metaverse market. eToro market analyst Josh Gilbert highlights this expectation, stating, “When Apple does it, they usually do it right.”
Conversely, there may be some doubts about whether the launch of Apple’s new headset will truly be the “crucial moment” needed to revive metaverse-related cryptocurrencies. It is essential to note that while virtual reality (VR) is often linked with metaverse tokens, key projects like Decentraland are still developing their VR capabilities, and Sandbox has no current plans to build out VR.
Gilbert acknowledges that a completely immersive metaverse experience may be a “long way off,” considering the significant gap between the initial launch of a product, like the iPhone, and the development of apps that capitalize on the hardware’s potential. According to Gilbert, the performance of metaverse tokens like MANA and SAND will depend more on how widely the metaverse is adopted by everyday users.
As the 2021 crypto bull run attracted more attention to the metaverse and associated cryptocurrencies such as MANA and SAND, many large-scale projects with venture capital backing touted their ability to create mesmerizing virtual worlds. However, despite significant investments in research and development, broad-scale adoption among everyday users remains elusive.
With the prices of MANA and SAND experiencing dramatic declines since their all-time highs in November 2021, the market waits with bated breath for the release of Apple’s mixed-reality headset on June 5. This launch represents the company’s first major product release since the Apple Watch in 2015, and its potential impact on the metaverse market, as well as metaverse-related cryptocurrencies, cannot be underestimated.
Ultimately, the success of metaverse tokens and their associated projects will rely on the continued development of groundbreaking immersive virtual experiences and, most importantly, their widespread adoption by everyday users. Apple’s mixed-reality headset may serve as a catalyst to this end, but to what extent remains to be seen.
Source: Cointelegraph
