Decentraland’s MANA Token Hits All-Time High After Sale of Virtual Real Estate

Decentraland’s MANA Token Hits All-Time High After Sale of Virtual Real Estate

Decentraland’s MANA token pushed to a record high on Thursday, hitting $5.84 for the first time. It is up almost 40% in the past seven days. The token of the decentralized virtual reality platform built on the Ethereum blockchain now has a reported market capitalization of $9.2 billion, according to data provider Messari. The surge pushes it ahead of metaverse related play-to-earn game Axie Infinity’s AXS, which has a reported market cap of $8.6 billion. Tokens tied to the so-called metaverse, or shared virtual environments, have surged since October, when Facebook said it was changing its corporate name to Meta to signal an increasing focus on the sector. At the time, Decentraland’s market cap was just over $2 billion. “Investors are still wanting to capitalize on the narrative of the …
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