Tech giant Apple has released details on its virtual reality headset. It has a raft of ambitious features to compete with its rivals, but will this be enough to fully revive Metaverse-related digital assets?
On Jan. 24, Bloomberg published an extensive preview of Apple’s highly-anticipated mixed-reality headset. The device is due out later this year under the likely name Reality Pro and weighs in at a hefty $3,000, it reported.
Apple intends to create a 3D world for its mobile operating system. Therefore, it is unlikely to be a fully open virtual world like Decentraland, The Sandbox, or Somnium Space.
Some of the core features will include advanced FaceTime-based video conferencing and meeting rooms for existing Apple users.
Apple VR Hardware Expectations
The device will have a number of external cameras that can track hand motions. Additionally, it will have “sensors within the gadget’s housing” that can be used to read eye movements.
According to the report, the headset will let users switch between VR and AR (augmented reality) by “twisting a digital crown,” like the Apple watch.
Users will be able to pinch their thumb and index finger together to activate a task without needing external controllers.
The device will go up against Meta’s high-end Quest Pro and Sony’s upcoming PlayStation VR2 devices. Meta’s Quest 2 headset, released in 2020, is the current leader in the VR and Metaverse hardware market.
According to Bloomberg, Apple expects to sell about 1 million units of its new headset in its first year. However, according to CNBC, global shipments of VR headsets and AR devices fell more than 12% in 2022.
Will Metaverse Tokens React?
It is unlikely that Apple will allow anything outside of the Apple ecosystem to interact with the device. Therefore, decentralized Metaverse tokens are unlikely to be directly impacted.
However, Apple’s move into Metaverse technologies in the wake of its rivals Meta, Microsoft, and Sony could bolster virtual worlds and their underlying assets.
Earlier this month, BeInCrypto reported that the Metaverse sector could reach $5 trillion by 2030, and Apple wants a slice.
According to CoinGecko, the Metaverse token market cap is currently around $8.5 billion. This is less than 1% of the total crypto market capitalization, which is now almost $1.1 trillion. Therefore, there is plenty of room for growth, especially considering that many of them are down 80-90% from their peak prices.
Top Metaverse Coins by Market Cap Data by CoinGecko
The top tokens, such as Axie Infinity (AXS), Decentraland (MANA), The Sandbox (SAND), and Enjin Coin (ENJ), are all down more than 85% at the moment. If the Metaverse and related technologies are set to boom, the leading tokens will likely be the first to move.