Metaverse Tokens Rally as Apple Introduces “Reality Pro” Headset

Key Takeaways:

• Apple will introduce its Reality Pro AV/RV headset.
• The goggles could revive consumer interest in Metaverse-related products.

YEREVAN (CoinChapter.com) – Metaverse tokens rallied in the past 24 hours as traders’ attention moved to Apple, a tech giant with $2.85 trillion in market cap, which introduced its new product — an augmented reality/virtual reality (AR/VR) headset.

“Reality Pro” Could Rekindle Interest in Metaverse

Erik Woodring, an Apple analyst at Morgan Stanley, commented that the “Reality Pro” headset would not hit the markets before Q4, 2023.

While we expect Apple’s AR/VR headset to be unveiled next week, our supply chain checks suggest mass production won’t start until October ’23, with general availability most likely ahead of the December holidays.

said the expert.

Meanwhile, the product that spent seven years in development signifies a shift towards the metaverse, which Facebook (now Meta) pushed nearly two years ago. However, the success of Reality Pro is not guaranteed, as the device lacks a fully functional app as of June 5.

However, the launch could rekindle consumer interest in the metaverse and, by extension, Metaverse-related crypto tokens. The sector has been dormant since 2022.

Axie Infinity and Sandbox revival ahead?

Metaverse token Axie Infinity (AXS), one of the most famous play-to-earn NFT games, launched its Origins card game on the Apple App Store mid-May. The game was previously available in limited regions on the Google Play store and through the company’s Mavis Hub.

Meanwhile, the token rose 10% in the previous ten days and traded at $7.14 on June 5, still 96% below its Nov 2021 peak.

Another Metaverse token, Sandbox (SAND), which blew up 37,000% in 2021, traded 92% below its all-time high on June 5, reaching $0.6 in the Asian-Pacific session. Notably, the Sandbox token reached the current value after a 23% uptrend in the previous ten days, similar to Axie Infinity.

Meanwhile, total SAND addresses have risen for the previous three months, with the top 10 of the total 228,600 holders controlling over 75% of the token supply.

Also read: Crypto AI Tokens Soar On The Back of Nvidia Success. 

It is unclear whether Apple’s “Reality Pro” can revive the Metaverse token sector. However, in the case of the product’s success after mass production in Q4, projects such as Axie Infinity and Sandbox, Decentraland (MANA), and others could rally once more.