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A little-known cryptocurrency spiked 400% after Facebook changed its name to Meta
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cnbc.comIn this article
Mana, a little-known cryptocurrency used for buying and selling virtual land, saw its price spike over the weekend amid excitement over Facebook's rebrand.
The price of mana hit an all-time high of $4.16 on Saturday evening, according to CoinMarketCap data, up 400% from where it was trading shortly after Facebook announced it was changing its name to Meta. It has fallen since, having last changed hands at around $3.16.
Facebook's rebrand was aimed at shifting the embattled social media company's focus toward the «metaverse,» a kind of shared virtual reality in which multiple users can interact with each other and digital objects.
Launched in 2017, mana is the native digital token of Decentraland, a self-proclaimed metaverse
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