The price of the tokens of GameFi and virtual worlds (metaverse) projects has seen a significant increase following news that social networking giant Facebook has decided to change its name to Meta.
The largest metaverse tokens by capitalization, Decentraland (MANA) and The Sandbox (SAND), are up by 43.42% and 19.07%, respectively.
Meanwhile, the largest projects in the GameFi sphere have also experienced high daily returns. The price of the Axie Infinity token (AXS) is up by 10.89%, while that of Enjin (ENJ) is up by 9.87%.
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According to Meta (formerly Facebook) CEO Mark Zuckerberg, the corporation will transform its business within five years. He has also stated that not only Meta hardware device owners, but also third-party device users will have access to its metaverse.
The excitement around GameFi tokens and projects in the field of virtual worlds may be associated with hopes that "bridges" will emerge between these spaces.