Is the Metaverse Sector Alive? Latest Developments in the Virtual Space
In Brief
- Decentraland launched its desktop app, boosting accessibility and engagement. The annual music event and MANA token’s 100% surge highlighted its growth.
- The Sandbox hosted Alpha Season 4, offering a $2.5M reward pool. This drove SAND’s trading volume to $1.91B and a price surge of nearly 150%.
- Floki delayed its metaverse game Valhalla’s mainnet launch to early 2025 for added security measures. FLOKI’s price dropped 3% after the announcement.
There has been a major uplift in the Web3 metaverse space, with several tokens recording significant highs in November.
Here are some of the most notable developments in the metaverse crypto scene: Decentraland launched its official desktop app, The Sandbox hosted its biggest reward season, and Floki further delayed its highly anticipated metaverse game.
Decentraland Launches Desktop Application
The metaverse platform Decentraland launched its official desktop app in October – Decentraland 2.0. Previously, the platform was only accessible through a web browser.
The desktop application was launched for both Windows and macOS, making the virtual world more accessible to users.
These developments saw increasing engagement in the metaverse platform, which was reflected in MANA’s market performance. The token surged by nearly 100% in November, reaching its highest price in over six months.
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The Sandbox (SAND) Surges Nearly 150% in a Month
Metaverse activity strongly picked up in November, as The Sandbox’s SAND token surged over 140% this month. SAND is currently the third largest metaverse token according to CoinGecko.
This recent surge is likely being driven by the platform’s Alpha Season 4. The Sandbox announced its biggest reward pool ever this season, with a $2.5 million SAND reward available for participants.
Users would receive these rewards through various quests and challenges on the metaverse. Several major brands and games contributed to creating these challenges. These included brands such as Playboy, Deep Sea, Voice, and Hellboy among others.
These initiatives influenced increased engagement on The Sandbox, driving SAND’s trading volume to $1.91 billion.
FLOKI Delays its Metaverse Game Until 2025
Meme coin project Floki has delayed the mainnet launch of its play-to-earn game, Valhalla, to early 2025. The game was originally set for release this November.
According to the latest announcement, the multiplayer metaverse project will now launch in Q1 2025. Floki has developed the game over three years to improve meme coin’s utility. The delay gives the team more time to collaborate with auditing partners.
“To ensure absolute safety of assets and users within the Valhalla ecosystem, we commissioned two of the most respected auditors in this space—Hacken and OpenZeppelin—to review the Valhalla contracts prior to mainnet launch. They recently made a number of suggestions that will help further enhance the security of the platform and safety of users and assets within the Valhalla ecosystem,” Floki wrote on X (formerly Twitter).
However, the announcement saw FLOKI’s price drop nearly 3% on Tuesday. Floki stated that it aims to ensure a smooth launch by extending the timeline.
