Metaverse Tokens AXS, SAND Plummet as Meta Reports $10B Loss

“Without clear utility for the value of the metaverse tokens, it serves as a proxy for investor’s sentiments on the future of the metaverse,” said Vincent Choy, ecosystem architect of Oz Finance, in an email to CoinDesk. “I believe that there will correlation between the tokens and stocks until the industry matures a lot more.”