Initial investors in the “metaverse coin” games receive major rewards today, including Grayscale, the largest asset manager in crypto.
Michael Sonnenshein explains why the firm bet on the metaverse
Speaking at the Crypto Goes Mainstream event earlier this week, Grayscale CEO Michael Sonnenshein told the firm that the firm sees the Grayscale Decentraland Trust as a “strong audience” as a passive way for investors to access the metaverse. Metaverse pairs the virtual world and character creation mechanics of games like SimCity and Minecraft with a local currency that can be exchanged for other cryptocurrencies or sold for fiat. For Decentraland based on the Ethereum Blockchain, this currency is MANA. It can be used to customize avatars and buy virtual land plots.
The token exploded after the news that Facebook has rebranded as Meta and announced its intention to become one of the most important developers in the metaverse. Shortly after the announcement, MANA changed the ATH level to $4.11. However, for investors who don’t want to gamble into an Axie Infinity world or build and sell architectures for MANA, the Grayscale Decentraland Trust may be a more attractive avenue. For this reason, Grayscale CEO Michael Sonnenshein says more research is being done in the metaverse coin space:
So this is one way for investors to consider investing in a crypto that would potentially gain value with the rise of a metaverse like Decentraland. This is just one of several applications. We are always researching the market to look for other cryptos that we can bring to our investors as well.
Metaverse coin MANA has gained more than 253% in the last 14 days
Cryptocoin. com, do not forget to take a look at our metaverse coin articles (section-1, section-2). MANA, one of the successful examples of metaverses, came out first with a performance of 28% earlier today. The local currency of the Decentraland virtual world and the cryptocurrency behind the Grayscale Decentraland Trust is 20% compared to yesterday. It was $3.29, up 6 percent. According to CoinGecko data, it has appreciated more than 253% in the last 14 days.
