Decentraland (CCC:MANA-USD) is continuing to rise higher on Monday as interest in the metaverse is fueling the crypto.
Let’s jump into what crypto traders need to know about the recent news and MANA.
- First off, note that the metaverse is the idea of blending virtual reality and the real world.
- Think of it like Ready Player One, but, hopefully, without everyone living in shipping containers.
- Decentraland is already moving toward that with its own virtual world that players can take part in.
- Truthfully, it’s much like playing a massively multiplayer online (MMO) game, such as Activision Blizzard’s (NASDAQ:ATVI) World of Warcraft.
- However, a major difference is that some companies want the metaverse to mimic real life.
- That includes the ability to hold meetings, interact with others socially, and more.
- That’s when we have to mention Facebook (NASDAQ:FB).
- The social media company recently announced a rebranding to Meta.
- This will have it focusing on developing for the metaverse.
- That jives with its other offerings, which include the Oculus VR headset.
- Facebook’s brand change ignited interest in MANA crypto last week.
- It’s also likely what has the price of MANA continuing to rise today.
- Many investors likely see the metaverse as the next big push in tech.
- As such, they want to get in early before prices rise too high.
- Considering FB is already a matured stock, it makes sense these traders would seek out younger assets to invest in.
- Just remember that there’s always a risk when investing in a smaller company and that holds especially true for crypto.
MANA was up 7.8% over a 24-hour period as of Monday afternoon.
InvestorPlace has more crypto news to dive into below!
We offer up daily coverage of the crypto market and Monday is no different. There’s plenty to talk about today with Ankr (CCC:ANKR-USD) on the rise, what’s next for Shiba Inu (CCC:SHIB-USD), as well as a possible rally coming for Ethereum (CCC:ETH-USD). You can get all those details from the following links!
More Crypto News for Monday
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- Ethereum Is Poised to Hit New Highs After a Recent Pullback
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.