Why Metaverse Tokens Are Getting Hammered in Crypto’s Market Sell-Off

Posted on by American Coins & Gold

Why Metaverse Tokens Are Getting Hammered in Crypto’s Market Sell-Off
Metaverse and gaming-related tokens have suffered steep losses during a time when the broader crypto market is fighting through a weekend sell-off.Decentraland (MANA), the top-ranking metaverse asset according to Messari, is down 25% in the last seven days. MANA reached a market capitalization of $10 billion on Nov. 25 but now sits at $6.63 billion.Read more: SAND, MANA Tokens Surged in November as Crypto Traders Bet on ‘Metaverse’ PotentialMANA’s drop is followed closely by AXS, one of the tokens in the leading play-to-earn game Axie Infinity, which is down 23% in the last seven days. The AXS market cap is…