Metaverse Cryptos Skyrocket Amid Meta Platforms' Plunge

Meta Platforms Inc FB — the metaverse company behind Facebook and Instagram — saw its stock plunge 26% Thursday. The company is currently on pace for its worst one-day decline in history following weak earnings results.

A few of its decentralized competitors saw significant gains over the past seven days.

What Happened: Coingecko data reveals that metaverse platform Decentraland MANA/USD saw its tokens rise considerably from a seven-day low of $2.16 to its current price of $2.61, up 20.3%.

Similarly, tokens of Decentraland competitor The Sandbox SAND/USD rose from its seven-day low of $3.29 to the current price of $3.62, up 16.6%.


While Decentraland and The Sandbox have much in common, there are some key differences. Both the platforms sell virtual land parcels in their versions of the metaverse for real money, but Decentraland has 90,601 parcels and The Sandbox has 166,464 plots. Decentraland is the older platform of the two and is the original 3D decentralized metaverse platform that boosts a more decentralized approach, but The Sandbox has better graphics.

Photo: NASA-Imagery from Pixabay 

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsTop StoriesMarketsMoversTrading Ideasmetaverse
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!