The project leveraged the name of social media giant Facebook and its recent entry into the metaverse space to gain attention from investors. Facebook Metaverse is a Binance Smart Chain (BSC) project that is basically a task-based play and win model.
According to the developers, investors who own a certain amount of FACEMETA tokens are eligible to participate in the game. The developers added that the in-game elements in the missions are designed to increase the time spent in the game and will include extra missions.
The Facebook Metaverse project is not similar to the social media giant Meta. However, it has been leveraging its popularity to promote its project.
The FACEMETA token is one of the best performers in the market over the past 24 hours. The coin rallied by nearly 56% to reach its all-time high price of $0.00000001337 a few hours ago. The rally came despite the broader cryptocurrency underperforming, with Bitcoin still struggling below the $50k level.
However, FACEMETA’s rally has cooled down over the past few hours and is trading at $0.00000000785 at press time. The rally could have been fueled by speculators rather than serious investors.
Some of the investors would have sold the project, leading to the huge price dip in the past few hours. There is no clear indication of how the project will proceed from here. However, with the bears still in control, FACEMETA could record further losses soon.
