The mainstream cryptos remain stuck in the quagmire, shedding gains at a steady rate. Wherefore, traders and hodlers have been encashing and swapping their holdings. Merchants from the business are now moving their assets towards stable coins, DeFis, NFTs, and metaverse projects.
Successively, savvies from the industry are optimistic of NFTs and Metaverse projects leading the industry at forefront. In the interim, Samsung U.S has announced its alliance with Decentraland, to host a virtual store. Which has turned the spotlight in favor of Decentraland, across the web. On the other hand, a proponent remains dubious over the future of the majority of NFTs.
Will Decentraland Be The Flag Bearer Of Metaverse Industry?
Samsung U.S has made announcements of its alliance with Decentraland. The electronics giant has opened a virtual narrative of its flagship 837 physical stores in Decentraland. The initiative will be one of the largest land takeovers by a brand in the history of Decentraland.
The virtual 837X store is set up for a limited time on the metaverse platform. The digital store will be hosting digital activities that include connectivity theatre, sustainability forest, and a customizable stage. While the connectivity theatre will be portraying the brand’s news from CES, the sustainability forest will walk through a myriad of digital trees.
In addition, the customization stage will be a host to a dance party by DJ Gamma Vibes from the offline store. Guests from the 837X store will be able to participate in quests, winners of which will be taking home exclusive NFTs. The move by Samsung has escorted fortunes to Decentraland, as the price is up 10.85% at $3.21, while the volumes for 24-hours have shot up 207.46% at press time.
On the contrary, a proponent from the industry is dubious over the future of the majority of NFTs, although he believes NFTs are here to stay. As he cites the events of NFTs to be resembling that of ICOs from 2017 / 2018. This could be possible because only a handful of NFTs has been engraving their presence.
Collectively, Decentraland has been making astounding moves off-late, the aforementioned initiative is another feather on its cap. Decentraland could mark the year in its name, as savvies have been gifting the tokens on occasions already. Moreover, mainstream crypto traders would continue to swap their legacy coins for emerging coins, fueling for a plausible bull run.