Investors are now more excited to know more about the metaverse world after Facebook changed its name to the Metaverse. In a recent interview with CNBC, one of the top-level executives at DBS bank, Daryl Ho, remarked that stakeholders from different sectors embrace the metaverse trend and learn how it can benefit their business.
Ho further remarked that even though the action enhanced interest in the metaverse space at their bank, DBS understood that the metaverse concept is the combination of tech drifts over the past years. Remarkably, the digitization of various areas of life such as work and taking videos. Ho also said, “we all need to realize that the world is going completely digital with the metaverse leading us into this new reality of life.”
Growth in This New Life
Ho admonished stock traders and investors to keep an eye on companies with the metaverse-related service offering. He cited the example of computer gaming firms saying, “many firms in this industry have the biggest experience in developing the metaverse. They already have several users immersing themselves in this space every day. Hence, I would suggest that investors seek out these firms because they are the ones that would lead and structure the metaverse world we desire.”
Regarding how investors can benefit from this world both in the medium and long-term, ho said the secret is to invest in these metaverse-related firms, and they must invest in them right now. He further said, “this migration into the metaverse is a culmination of tech trends witnessed over many years. These big tech companies should be your main target.”
The Rising Popularity of The Metaverse
In recent weeks, the metaverse has been the subject of hot debate in the entire universe, with Roblox founder, Dabe Baszuki saying that “the metaverse is our life now.” However, blockchain developers in the computer gaming industry plan to expand into other industries such as virtual performances and fashion. Already, NFTs are being deployed into the metaverse to provide live virtual concerts.
Also, some nations like Barbados are making plans to establish a metaverse embassy. If Barbados is successful, it will be a first for any nation.
Two Metaverse Tokens Set New Peak Prices
The growing popularity of the metaverse has caused a surge in the prices of metaverse-related tokens. For instance, MANA and SAND tokens set new peak prices on November 23. A Coingecko data indicate that MANA rose to $5.35 before a slight price correction to trade at $4.99.
Despite the pullback, the token has surged by 540% in the last month and 21% in the past 24 hours. SAND also behaved similarly, rising to $7.23 and now trades at $6.70. This price indicates a surge of 749% over the past one month and 26% in the last 24 hours. Enjin coin and Immutable X are other metaverse-related tokens that are also not performing poorly. The former and the latter have gained 9.5% and 8.5% in the past 24 hours.