Meta Layoff Announcement Hits Metaverse Tokens Like Decentraland (MANA) and The Sandbox (SAND) Investors Shift to TMS Network (TMSN) Token Presale

Introduction

The US Federal Reserve has been hiking interest rates at an unprecedented pace. A cooling of the economy and layoffs have rocked the technology sector. Companies like Amazon and Meta have been firing thousands of employees. Meta previously invested heavily in the metaverse. Will tokens like Decentraland (MANA) and the Sandbox (SAND) be affected? Fresh from raising $2 million in phase one of their presale, TMS Network (TMSN) may offer an alternative.

Tech Layoffs

As the economy slows, company revenue across the board is hit. As a result, additional pressure is placed on those companies to cut costs. The technology sector boomed throughout the COVID period from 2020-2022. Lockdowns meant that the majority were at home using online services.

However, this is no longer the case. Amazon has announced around 27,000 job cuts this year alone, and Meta has plans to lay off another 10,000. This is on top of cuts made towards the end of 2022. Due to Meta’s heavy investment in the metaverse, a few questions are being raised.

How much of an impact will these cuts have on the metaverse sector? And do they affect crypto-based metaverse projects?

Decentraland (MANA)

Built on Ethereum, Decentraland (MANA) is a virtual world and gateway to the metaverse. Decentraland (MANA) is considered an industry leader within the crypto branch of the metaverse. Metaverse tokens have exceeded expectations in 2023, despite market conditions. Decentraland (MANA) is up over 110%, following the wider market rally.

This year, the Decentraland (MANA) metaverse fashion week begins on the 28th of March. Investors have speculated Decentraland (MANA) could rally off the back of the event. Well-known, high-end fashion brands, including Dolce and Gabbana and Adidas, will participate in the event.

Yet, the Meta news may dampen Decentraland (MANA) holder’s outlook. Although not directly involved in the event, Meta greatly influences anything related to the metaverse. It may be the case that the Decentraland (MANA) fashion week is overshadowed by growing market concerns.

Sandbox (SAND)

Sandbox (SAND) is a decentralized online world built on the Ethereum blockchain. Like Decentraland (MANA), users can create, build and monetize 3D content. The Sandbox (SAND) token is extensively used within the Sandbox ecosystem to buy, sell and trade in-verse virtual assets.

Sandbox (SAND) has struggled recently after an explosive 7000% rally through 2021/22, with the token down around 90% from the highs. The bear market has severely affected all asset classes, and Sandbox (SAND) is no exception. With news of the Meta layoffs, metaverse tokens like Sandbox (SAND) may struggle in the coming months. As the market rallies and other altcoins follow, investors may face opportunity costs.

TMS Network (TMSN)

TMS Network (TMSN) has been catching investor attention. Fresh from phase one of the presale, TMS Network (TMSN) is a new, Ethereum-based decentralized exchange. TMS Network (TMSN) offers an experience that can’t be found on contemporary DEXs.Tradeableasset classes range from CFDs to FOREX, and stocks to crypto. All in one decentralized and trustless platform.

As an additional utility for both the platform and the token, TMS Network (TMSN) token holders can access extensive trading tools.These include on-chain data, trading bots, social trading, an in-house research platform, and more. Additionally, TMS Network (TMSN) holders earn a share in the commission fees generated by the platform.

As the metaverse faces strong headwinds, investors have been showing keen interest in the TMS Network (TMSN) presale.

Click here for more information about TMS Network (TMSN).

Presale: https://presale.tmsnetwork.io

Whitepaper: https://tmsnetwork.io/whitepaper.pdf

Website: https://tmsnetwork.io

Telegram: https://t.me/tmsnetworkio

Discord: https://discord.gg/njA95e7au6

Press Release Distributed by The Express Wire

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