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Grayscale’s Metaverse Bet Is Paying Off: MANA Climbs 253% in Two Weeks

Early investors in “metaverse” plays are today reaping large rewards, including the biggest asset manager in crypto, Grayscale.
Grayscale CEO Michael Sonnenshein, who spoke at the Decrypt and Yahoo Finance Crypto Goes Mainstream event earlier this week, said the firm has seen “strong receptivity” to its Grayscale Decentraland Trust as a passive way for investors to get exposure to the metaverse. 
The metaverse pairs the virtual world and character building mechanics of games like SimCity and Minecraft with a native currency that can be traded for other cryptocurrencies or sold for fiat. For Decentraland, which runs on the Ethereum blockchain, that currency is MANA. It can be used to customize avatars and purchase parcels of virtual land.

The token got a huge bump following news that Facebook had rebranded itself Meta and announced its intention to be one of the prime developers in the metaverse. Shortly after the announcement, MANA set an all-time high of $4.11.
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