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Play-to-Earn tokens shoot up to 100%


 

At the top of the play-to-earn and metaverse tokens are SAND and MANA, both of which have seen strong weekly gains.

Metaverse tokens are experiencing huge increases

The last few days have been very exciting for Metaverse fans, especially when it comes to increases among all the cryptocurrencies. While the entire market is on very shaky legs, the exceptions include play-to-earn and metaverse tokens.

Most of the projects in the Metaverse area show a weekly increase of more than 80%.

One of the front runners, especially in the last few days, is The Sandbox (SAND). This project saw an increase of 110% in the week and shows no signs of not wanting to increase any further. The price is currently at $ 8 and new highs are being hit every day. SAND is the third largest play-to-earn token in terms of market capitalization.

The big Decentraland project overtook Axie Infinity in market cap after an impressive 56% weekly increase. MANA is now above $ 5.60 while AXS is only up 5% for the week.

MyNeighborAlice (ALICE) is up 100%, Enjin Coin (ENJ) - 57.61%, Ultra (UOS) - 105%, Mines of Dalarnia (DAR) - 104% are other projects that have also increased.

There is no particular reason for the sharp rise in these coins, it just seems to be some general hype following the renaming of Facebook to Meta.

A lot of smart money ends up in this market segment. Enjin is preparing to explore the metaverse by building a $ 100 million fund to support projects in the ecosystem that are focused on decentralization.

In addition, the crypto exchange KuCoin has launched a fund of USD 100 million through its investment and research arm, which is also intended to support early-stage projects in this area.

Meanwhile, several large institutional investors and venture capital firms like the Winklevoss twins, Marc Andreessen, Alan Howard, and the Digital Currency Group raised an additional $ 100 million to help accelerate Sfermion's creation of the Metaverse.

It seems that smart money has a very strong belief in the success of this market segment.

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