Metaverse Tokens Gain Big As Zuckerberg's Bullish View Eclipses Reality Labs' $13B Loss In 2022

Despite operating losses in 2022 for the Reality Labs business, Meta Inc META CEO Mark Zuckerberg reassured that the company is sticking to its long-term goals for Metaverse, leading to a surge in the prices of associated tokens.

What Happened In the last 24 hours, Decentraland MANA/USD rose by 6.40% trading at $0.80.

The Sandbox SAND/USD surged 4.77% at $0.76, Axie Infinity AXS/USD gained 3.71%, at $11.33 and Enjin Coin ENJ/USD was up 3.30%, trading at $0.47, in the last 24 hours.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards 

Meta released Q4 earnings on Wednesday showcasing that the Reality Labs business had accumulated $13.7 billion in losses in 2022, as well as $4.3 billion in losses in the fourth quarter — the largest quarterly loss ever recorded for the department. 

During the earnings call, Zuckerberg maintained his firm's focus on the firm’s metaverse strategy. “None of the signals that I've seen so far suggest that we should shift the Reality Labs strategy long-term,” he said.

Read Next: Bitcoin Crosses $24K, Ethereum, Dogecoin Spike After Fed Hints Disinflation: Analyst Says Further Apex Crypto Moves Will Be 'So Violent'

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsSocial MediaTop StoriesMarketsMoversTechTrading IdeasGeneralAxie InfinityDecentralandMark ZuckerbergReality LabsSandbox
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!