ENJ - Meta Platforms' Metaverse Losses Pour Cold Water on These 3 Top Metaverse Tokens
The crypto market is certainly getting its fair share of lumps today. However, among the hardest-hit cryptocurrencies right now are those dealing in the metaverse. Top metaverse-themed tokens Axie Infinity (CRYPTO: AXS) , The Sandbox (CRYPTO: SAND) , and Enjin Coin (CRYPTO: ENJ) are down 5.6%, 4.8%, and 3.9%, respectively, over the past 24 hours, as of 1 p.m. ET.
These losses come as Facebook parent Meta Platforms (NASDAQ: FB) reported earnings today, which missed the mark across the board. Weak guidance and lower active user counts highlighted most investors' concerns. However, another key highlight of this report was the company's loss in its metaverse business -- of more than $10 billion.
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Meta Platforms' Metaverse Losses Pour Cold Water on These 3 Top Metaverse Tokens