[Asia Economy Reporter Ji Yeon-jin] Metaverse-related stocks, which had recently surged, are showing a sharp decline on the 22nd. This is interpreted as investors who bet on future growth are taking profits amid signs of early tightening, such as the expected US interest rate hikes next year.
Giantstep is trading at 134,200 KRW, up 13.81% (21,500 KRW) compared to the previous trading day as of 11:10 AM. The company, a specialist in AI-based real-time content solutions, has been considered a leading metaverse stock. Since its listing in March, its price has soared 14 times compared to the IPO price (11,000 KRW) as of the 19th, and it has surged 127% this month.
At the same time, Seoul Auction recorded a 13.98% drop to 30,450 KRW, along with Cube Entertainment (-10.86%), Joycity (-10.97%), C-Lab (-12.52%), Devsisters (-13.09%), and Me2on (-10.88%). These stocks had recently surged significantly after announcing their entry into blockchain-based gaming businesses combining metaverse and non-fungible tokens (NFTs).
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