This study presents stylized facts of the fungible tokens/currencies (MANA/USD and SAND/USD) in the Metaverses (Decentraland and The Sandbox). Metaverse currency exchange rate market exhibits very high conditional volatility, albeit no leverage effect, less impact of the real-world crisis (Global Lockdown due to COVID 19 pandemic) and low correlation with either cryptocurrency index (CCi30) or real-world equity index (S&P 500). Surprisingly, MANA and SAND β fungible tokens/ currencies in different Metaverses exhibit significant and increasing correlation between each other. The relative market efficiency of Metaverse currency market is comparable to that observed in the cryptocurrency and equity markets in the real-world
