Apple is preparing to release its highly anticipated mixed-reality headset in the coming weeks, which is expected to invigorate the metaverse industry. The native tokens of blockchain-based metaverse projects Decentraland and Sandbox experienced significant price surges earlier this year, partly fueled by rumors about Apple’s venture into mixed reality.
Independent developer Udi Wertheimer highlighted this trend in a tweet on May 15, sarcastically referring to influencer-driven meme coins and suggesting that Apple’s upcoming release could impact metaverse token prices. Josh Gilbert, an eToro market analyst, believes that Apple’s new headset will have a significant impact on the markets due to Apple’s track record of delivering high-quality, market-shifting products.
However, Gilbert also expressed doubts that the headset’s launch alone would be the transformative moment for metaverse-related cryptocurrencies. It is important to note that virtual reality and “metaverse tokens” are not necessarily synonymous. Decentraland is still developing its VR capabilities, while The Sandbox has no immediate plans for VR integration.
Apple’s efforts in achieving a fully immersive metaverse experience
Gilbert and others acknowledge that achieving a fully immersive metaverse experience is still a long way off, considering the time it took for iPhone apps to fully exploit the device’s potential after its initial launch. He believes that the performance of metaverse tokens like MANA and Sandbox’s token will depend on the widespread adoption of the metaverse among everyday users.
The metaverse and associated cryptocurrencies, such as MANA and SAND, gained immense popularity during the 2021 crypto bull run as numerous projects aimed to create immersive virtual worlds. However, many of these companies, including Meta (formerly Facebook), have yet to achieve broad-scale adoption among everyday users, despite substantial investments in research and development.
According to a report by Apple product expert Mark Gurhman, the tech giant’s new headset is scheduled for release on June 5, marking its first major product launch since the Apple Watch in 2015.