According to sources, Meta has pivoted from the metaverse, refocusing efforts on AI technology. This comes as a shock to blockchain-based metaverse tokens like Decentraland (MANA) and The Sandbox (SAND). With thousands of tokens all vying for investment as the market rallies, the altcoin market is the most competitive area of crypto. Newcomer TMS Network (TMSN) appears to have stolen the show, and its presale has been a hit.
Lack of interest in the metaverse?
With Meta’s repositioning to face AI technology, the blockchain metaverse space may be in trouble. Recently, a plot of land within the Decentraland (MANA) world sold for $3,528. Yet, it appears this sale is an outlier. Decentraland (MANA) active user count has stagnated over the first quarter of 2023, remaining at around 30,000 for three months.
However, it is not only Decentraland (MANA) struggling to attract users. Other blockchain-based metaverses like The Sandbox (SAND) have also struggled. The Sandbox (SAND) registered just 3,660 transactions in a 30-day period from mid-March 2023, according to DappRadar.
This lack of interest in the metaverse hurts tokens like Decentraland (MANA) and The Sandbox (SAND), as their value is tied to on-chain activity. At present, the metaverse simply doesn’t have the same hype that it did throughout 2022. Decentraland (MANA) and The Sandbox (SAND) feel the full effects.
Decentraland (MANA) has pulled back -25% from its 2023 high. The Sandbox (SAND) has similarly registered a -27% drop. This is despite the wider market rallying from the December 2022 lows. Large institutional players, like Meta, are increasingly diverting their attention away from the metaverse and towards AI. For The Sandbox (SAND) and Decentraland (MANA) to remain competitive within the blockchain space, interest must be expanded on the broader market. Whether this means targeting a new audience or implementing new features, The Sandbox (SAND) and Decentraland (MANA) have their work cut out for them.
TMS Network (TMSN)
In the new DeFi economy, exchanges are a central feature. TMS Network (TMSN) seeks to bring a new perspective on the DEX trading experience. Built on and leveraging the security of the Ethereum blockchain, TMS Network (TMSN) brings a whole new cohort of tradeable asset classes on-chain. Including, but not limited to, FOREX, stocks, CFDs, and crypto, traders from most backgrounds can access the assets they’re familiar with in a decentralized, non-custodial environment.
The TMS Network (TMSN) token grants a huge range of additional benefits. Holders enjoy access to trading tools, including a customizable trading bot, social trading, in-house research, and live on-chain data. Over and above platform functions, TMS Network (TMSN) holders are entitled to share in protocol fees associated with commission paid by traders.
Interest in the metaverse is not what it used to be. As large, centralized institutions pivot towards AI, projects like The Sandbox (SAND) and Decentraland (MANA) are losing traction.
Decentralized exchanges will always be required, and TMS Network (TMSN) brings a whole host of new features not seen before in the sector.
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