MANA-mania sweeps the worldwide cryptocurrency market, on the heels of Facebook’s “Meta” rebrand

MANA-mania clears the worldwide cryptocurrency market, closely following Facebook’s “Meta” rebrand.

The cost of Decentraland’s MANA — a decentralized 3D virtual reality stage upheld by the Ethereum blockchain — took off to a high of $4.33 at 6:30 p.m. Saturday evening, a 164 percent gain in only 12 hours, as per the trading site Coinbase.

Seven days prior the cost of the resource floated around $0.80, yet it started its fast rising on Thursday after Facebook CEO Mark Zuckerburg declared his embattled company would make a “metaverse” — a virtual reality world where clients can socialize, work, play games and create art.

The move by the interpersonal organization, which is utilized by almost 3 billion individuals per month, flagged an expected enormous potential gain in the virtual world market, specialists said.

Decentraland’s metaverse — where clients can purchase digital art or make a virtual social world — can be gotten to with the digital tokens, which are likewise worth an expanding measure of real-world cash.

“MANA’s driving situation in the metaverse ecosystem will probably be hardened further by Facebook’s transition to rebrand and zero in on building its own augmentation to the digital world,” said Denis Vinokourov, head of research at Synergia Capital, as indicated by Coindesk.