Meta, formerly Facebook, lost $232 billion in value on Thursday in trading as the company reported a weaker-than-expected forecast for its revenue, marking the largest decline in a single day ever seen in the markets, reports CNBC.

It comes at a time when the company has rebranded and staked its flag in the metaverse, an area of crypto that includes virtual reality, virtual marketplaces, games, and more. It’s this very investment that saw Meta reporting a $10 billion net loss for 2021 within the metaverse division, and it’s something that could have broader unintended consequences for companies working to build the metaverse.

“There surely is a correlation between the success of Meta with its metaverse efforts and the perceived potential of metaverse/play-to-earn projects and tokens,” explained Adrian Krion, CEO of blockchain gaming platform Spielworks, in an email to CoinDesk. “There’s been a surge of interest in the space since Facebook’s rebranding, so any setback in Facebook’s metaverse strategy will directly impact the market perception of other metaverses.”

Metaverse-linked tokens have seen declines since the earnings report by Meta, with tokens based off blockchain games like Axie Infinity, The Sandbox, and Gala all falling as much as 12% in 24 hours, CoinDesk reports. While the games part of the metaverse continues to attract a niche clientele and major companies such as Samsung, Binance US, and FTX US all create presences within the metaverse, divisions such as the one at Meta continue to struggle in very public view.

Investing in the Major Crypto Industry Movers With BLOK

For investors who want access to the growing crypto space but are uncertain about investing directly, crypto equities can offer a good solution. The Amplify Transformational Data Sharing ETF (BLOK) is an ETF that invests in companies working to create and use blockchain technology.

BLOK currently has $917 million in AUM, is actively managed, and invests in companies directly involved in developing and using blockchain technology. BLOK was also the first blockchain ETF approved by the SEC and launched in 2018.

The fund invests in companies partnered with or directly investing in companies utilizing and developing blockchain technologies. However, the fund does not invest directly in blockchain technology or cryptocurrencies.

BLOK spreads its holdings across the size spectrum, investing in all market caps. As of the end of December, top allocations within the blockchain industry included transactional at 38.0%, crypto miners at 23.0%, and venture at 11%. BLOK invests across the blockchain landscape, in miners, exchanges, and developers.

Top holdings include SBI Holdings at 4.66%, Nvidia (NVDA) at 4.52%, and CME Group at 4.50%.

BLOK has an expense ratio of 0.71% and currently has 46 holdings.

For more news, information, and strategy, visit the Crypto Channel.