![]() ![]() The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. ![]() The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. $154M Burned in Gas Fees During Otherside Lands Minting.As the industry is still in its early stages and is continually growing, experts suggest that metaverse platforms should become mainstream by 2025. According to last month’s report by Cryptomeria Labs, the metaverse industry has already raised $120 billion in 2022. The report also noted that currently, there are 50,000 users in the Web3 virtual worlds and 412,578 users in the NFT space.ĭespite declining sales in decentralized worlds, Meta reported a $2.8 billion loss in its metaverse division, Reality Labs, earlier this year.Įven with the declining interest in the metaverse, partly due to the current bear market, the virtual world is expanding. Moreover, the metaverse compounding annual rate is set to grow by 47.6% from 2021 to 2029. Even though the general audience isn’t as active in the metaverse as before, various brands and celebrities are still rapidly entering the two metaverses and expanding their businesses.Ī report shared by EarthWeb predicted that one in every four people will be active in the metaverse by 2026. The Sandbox reported 39K daily users in its Alpha Season 3 (201K monthly).ĭecentraland is a $1.3 billion platform, while The Sandbox is valued at over $4 billion. Source: WeMeta Number of users in decentralized metaversesĭecentraland has recently shared that there are approximately 8,000 daily and 56,697 monthly active users on the platform. Across the six metaverses, the weekly volume of digital land purchases fell from $64.1 million in one week, reported in November 2021, to $710,177 in October 2022. The largest metaverse land seller, The Sandbox, saw an average land sale volume drop to just $2,800 from $35,500. WeMeta statistics indicate that Ethereum-based metaverse project sales dropped to about $2,500 from almost $21,000 in January. However, the graphs show the opposite trend. Experts predicted that sales would double in 2022. Last year, people spent $501 million buying digital land in the metaverse. Metaverse real estate sales are going down, except for the Otherside The daily number of active users in two popular metaverses – Decentraland and The Sandbox – had reached around 8,000 and 39,000, respectively. Data from a few months ago showed that in 2022, virtual land sales plunged by 85%. Many agree that the metaverse has a promising future, but currently, the virtual world business doesn’t seem to be doing well.
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