The image is of a game.
Axie media kit.
This year, cryptocurrencies related to the Metaverse have surged by over three-quarters of a million%, according to data from Macro Hive.
The data was based on the gains of five coins, which rallied 20% or more over the past seven days.
The coins are part of the metaverse, a term for the next phase of the internet where people can live, work, and play. There are small versions of the metaverse. Users can play games to earn money. Digital land and other assets can be owned by players in Decentraland.
Macro Hive, a UK-based research firm, said that the metaverse rally was likely "turbocharged" by Facebook's decision to rebrand to Meta Platforms as a sign of its push into the future internet. The data was first reported.
The four emerging categories of cryptocurrencies are:bitcoin, smart contract platforms, metaverse, and Defi.
The smart contracts that include applications based on ethereum, solana, cardano, and polkadot, came in second with a 2,355% rally in 2021.
Defi counts services like Uni swap and Pancake built on top of the network. The group rallied a lot this year. When compared with the rest of the bucket, the gain is a meager 97.
Business Insider has an original article.
