Welcome to Metaverse Market Analysis! Every Monday we bring you the latest stats and data about the overall state of the metaverse market, and this week’s article is a monthly overview of the metaverse market. This column is in partnership with an incredible team of One Landa financial platform for virtual lands in Metaverse.
- Metaverse Real Estate is experiencing a tough August, as premium projects suffer significant drops in land caps and token prices plummeting.
- Sandbox launches Alpha Season #3 over 10 weeks, hoping for a recovery in land sales
- Decentraland sees no way out of the bear market
- Global Webb flexes its muscle with a new NFT integration tool and abundant partnerships
Markt data and analysis
Things did not bode well for the economies of virtual worlds in August, with the total cap of Earth listed for all seven metaverse projects listed on OneLand (sandAnd the decentralizationAnd the voxelsAnd the Somnium spaceAnd the all over the worldAnd the NFT worlds And the the other side) increased by 15.85% to 888,309 ETH, or $1.378 billion.
It represents a marked reversal from July’s 9.9% drop, and a reflection of the monthly result for the global NFT market. Besides, this is the first time that the total land area of the seven projects has fallen below 1 million ETH since then. the other side She entered the battle for the first time on May 1.
It is clear that the bulk of the downturn, much worse in percentage terms than the cryptocurrency’s performance in August, is from excellent projects the other side (-18.2%), sand (-18.6%) and decentralization (-8.3%), and none of them had good months. However, all seven projects suffered from a drop in land ceilings, while only voxels And the all over the world There has been an increase in trading activity.
The 8.15% drop in the ETH price, in contrast to the 54% surge in July, may have contributed somewhat to the outcome. In line with the downtrend, the . file Metaverse indicator It fell 26% to end the month at $34.
Trading volume of land in sand It continued to decline in August, down 40.6% on the back of a 30% drop in July. The average parcel price (-29.4%) fell to end the month at a low of 1.61 ETH, putting downward pressure on the ground cap, which fell by 18.6% to below 200,000 ETH for the first time since November. Right – that was during a meteorite ascent of sandWhen the price of $ETH was three times what it is now, it makes the comparison more indicative.
August 24 saw the launch of Alpha Season 3, the longest, largest and most accessible of all Alpha seasons to date. As shown in End of last weekit will be very interesting to see the impact of this on land trading, given that this season lasts for a full 10 weeks and gets deep into a bear market.
While there was no uptick in sales in the first week, the last few days of August saw some of the highest priced sales sand In one month, including one land for 19.98 ETH. Unique car carriers have been on the rise since the season launched, which could indicate a shift from its low from June to mid-August.
There was no gap in sight in August of decentralizationSliding a bear market. Its land cover continues to suffer, dropping another 8.3% to 183,175 ETH, less than half what it was at its most recent peak in June. There is another monthly volume drop (-16.5%) following the sharp fall of 80% in July, which does not look good for him. decentralizationEconomie.
Although the number of sales remained on par with July, both months failed to record a single day of volume over 22 ETH; By comparison, this was flat daily in June, with the highest trading day being 145 ETH.
While July recorded the highest sales of 50, 44, 33, 25, 19 and 12 ETH, August’s highest sale was just 11.39 ETH (for real estate). Besides, this came with a two-month mana price collapse in the second half of August ending the month 24.5% lower than it started.
The numbers of unique landowners continue to rise, compared to the previous month and order. However, it has become difficult to ascertain whether this is a firm belief from the community, cheap parcel prices, or an increasing number of liquidations by cash-strapped people. Events like the third edition of decentralizationArt Week is currently not leading to any significant increases in foot traffic nor increases in property sales.
The top sell of 12.5 ETH on August 2 was enough to see a 9.7% increase in trading volume voxels, but nothing else very positive. Sales surged during the month, but the average price fell 30% for the second month in a row, sending market capitalization south another 2.54% to just 16,645 ETH, a number last seen in November.
July’s decision to lay off employees and focus on its core product — putting a pause on upgrades, partnerships and new land mints — bore some fruit in August as the team released a series of tech updates. However, neither the decision to curtail the land cap nor the Burn Party they convened will witness it voxels Lift his head away from the waterline yet. Gifting a batch of FOLK to about 12,000 wallets couldn’t hurt. Meanwhile, the number of unique landowners continues to rise, by another 2% for the month.
Somnium space He suffered a storm in August against the backdrop of an eventful month of July. Founder Artur Seschoff may have launched his new social media platform Web3 Authentication On August 19, he took some of his and others’ attention away from the metaverse (something he had to deny). Twitter), as land sales fell after the announcement.
Overall, it wasn’t a great month for the metaverse, with trading volume dropping 89% from 68 to just 38 ETH. With a 33% decrease in the number of sales, and a 15% decrease in the average price, SomniumMaximum land ended the month down 4.1%.
SomniumThe bear market economy suffered on the back of its native token CUBE crashing 93% from ATH of $24.93 in February to where it is today below $2. The 40% price hike in the first week of August was short lived, as the price fell through the rest of the month (+9.1%). In terms of ETH, the roof of Somnium’s land collapsed in March and April and has remained in the ETH region of 13,000-14000 since then.
all over the world
Our hints that the team was working hard in July seemed to be correct, as they did in August all over the world It has released a series of updates including a new integration tool that they say will increase the “million+” NFTs already built into the project. In the past month, NFTs from Meetbits, Moonbirds, Staycool, Dead Fellaz, The Doge Pound, Dippies and Picaroons as well as POAPs have been added to the 2D virtual world. WorldwideWebb has also released news of partnerships with Immutable X and GameStop.
The good news obviously affected trading activity, as sales numbers and volumes rebounded from July, especially in the first half of the month. The highlight was, of course, great 25 sell ETH Which changed the mood on August 3, since the last sale that came close to this size was one 17.97 EUR Back in May.
Nothing came close then, as premium sales have been a pretty rare occurrence lately for all projects, except perhaps one. WorldwideWebb’s land cap continued to suffer a slight decline of 1.36%, while landowners continued their gradual decline, down another 0.55% during the month.
No economic recovery in sight yet NFT worlds Since Minecraft has been banned on NFTs, though, there are at least signs that the team has been working hard after promising a new platform and releasing a new token sheet at the end of July.
The last week of August saw the team launch a new developer channel in their Discord and fill it with a slew of updates, while also informing the public that they will be keeping Minecraft content to ensure a smooth transition to the new game.
In general, all scales appeared in red for NFT worlds In August, volume (-78%) and sales (-64%) declined significantly once the major sell-off subsided and the average price collapsed below 1 ETH. NFT worldsLand cap dropped 19.8% in August to 34,184 ETH – a 57% drop from May and 29% from July 20 when Minecraft banned NFTs.
the other side
the other sideThe earth’s total cap fell by 18.2% this month to close to the month at 435,733 ETH, falling below half a million ETH for the first time. After a 22% increase in the average price of ETH in July (the month in which ETH was up 54%), things got right this month, as trading activity saw a significant drop. Other precious business tops have been dropping recently, with August 3 seeing only sales above 50 ETH, down from 5 in July and over 10 in June.
Regardless, these prices are a plus the other sideSales of 2,064 (-20.5%) and 7,334 ETH in volume (-45.1%) not only dwarfed all other projects, but was enough to see otherdeeds’ perpetual sales reach an astonishing level. $1.035 billion In doing so, he surpassed the NBA Top Shot to record the largest NFT sales volume ever. Achieving such a result in its short 4-month history in the midst of a crypto winter showcases not only the capital and power of Yuga Labs, but the drag power of the Metaverse itself.
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