Apple’s Vision Pro launch affects the metaverse, causing a 160% profit increase for a specific token.
The cryptocurrency market experienced a correction over the weekend, with every asset except for Bitcoin seeing a downward trend. However, some tokens in the Metaverse sector saw significant profits, defying the overall trend in the crypto market. This positive price action seems to be related to Apple’s launch of its new product, the Vision Pro.
Apple’s Vision Pro is the company’s first “spatial computer,” allowing users to blend the physical with the digital world and interact with applications, content, media, and more across different formats. The Metaverse and blockchain-based projects in this sector have similar objectives, and there has been a growing correlation between Metaverse tokens and announcements from big tech companies related to this sector.
According to a study from CoinGecko, the Apple Vision Pro highlighted the positive performance of Metaverse and Augmented Reality tokens. Ovr and its native Metaverse token (OVR) saw a 168.6% increase on the back of the announcement. Other small-cap tokens in the sector experienced similar gains. Metaverse tokens with larger market caps appreciated pre and after the Apple announcement, although they registered fewer profits. The Sandbox (SAND) saw an 18% increase between mid-May and June 5, and Decentraland (MANA) saw fewer gains, with an 11% profit mostly registered during the announcement.
Overall, the Metaverse has been partially affected by the current trend in the overall crypto market, with some tokens retracing some of their gains on the back of the most recent downturn. However, the current price dip could be favorable for long-term investors, as these tokens could continue to benefit from similar announcements.
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Metaverse Tokens Bloom As Hype For The Apple Vision Pro Growths
