Metaverse tokens AXS and SAND were pounded after Meta reported a $10B loss. shauryamalwa reports.
Metaverse tokens AXS and SAND plunged on Meta Platform's $10B loss.
The metaverse broadly refers to a virtual world in which people can interact as they do in the real world, but digitally. In early Asian hours on Thursday, AXS fell to under $46 before slightly recovering to $49 in afternoon hours. It traded over $53 before Meta’s earnings release on Wednesday. AXS now sits at support levels last seen in September 2021, before the tokens began a multi-month run to all-time highs of $162 in November.
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