Will Apple’s New Mixed-Reality Headset Boost Metaverse Tokens?
Apple's virtual reality headset is expected to be released later this year.
It's unlikely that anything outside of the Apple ecosystem will be able to interface with it.
Metaverse tokens could recover quickly if there is another boom in virtual worlds.
Apple has revealed details about its virtual reality headset.
To compete with its rivals, it offers a slew of ambitious features. However, will this be enough to fully revive Metaverse-related digital assets?
On January 24, Bloomberg published a detailed glimpse of Apple's highly anticipated mixed-reality headset. The device is expected to be released later this year under the likely name Reality Pro and will cost a whopping $3,000, as per the report.
Apple aims to develop a 3D environment for its mobile operating system. As a result, unlike Decentraland, The Sandbox, or Somnium Space, it is unlikely to be a totally open virtual world.
Some of the key features will include improved FaceTime-based video conferencing and conference rooms for existing Apple users.
Apple's VR Hardware Expectations
The device will contain a number of external cameras that can track hand motions. It will also contain "sensors within the gadget's housing" that can read eye movements.
The headset, like the Apple Watch, will allow users to switch between VR and AR (augmented reality) by "twisting a digital crown," per the report.
Users will be able to activate a task by pressing their thumb and index finger together, eliminating the requirement for external controls.
The device will compete with Meta's high-end Quest Pro as well as Sony's future PlayStation VR2 devices. The current market leader in VR and Metaverse gear is Meta's Quest 2 headset, which was released in 2020.
According to Bloomberg, Apple anticipates selling approximately one million units of its new headset in its first year. However, global shipments of VR headgear and AR gadgets are expected to fall more than 12% in 2022, as per CNBC.
Are Metaverse Tokens Going to React?
Apple is unlikely to enable anything other than the Apple ecosystem to communicate with the gadget. As a result, decentralized Metaverse tokens are unlikely to be influenced immediately.
However, Apple's entry into Metaverse technology, following rivals Meta, Microsoft, and Sony, may strengthen virtual worlds and their underlying assets.
As per reports, the Metaverse token market cap currently stands at $8.5 billion. This is less than 1% of the total cryptocurrency market capitalization, which is presently approaching $1.1 trillion. As a result, there is plenty of room for expansion, especially given that many of them are down 80-90% from their peak prices.
Also read: ChatGPT Clears US Medical Licensing Exam | Will this AI Tool Takeover the Crypto Industry?
