Metaverse platforms and virtual property prices have struggled to stay afloat given the sharp drop in value.
Decentraland (MANA), The Sandbox (SAND) and Otherside (APE) tokens have lost an average of 30% in value over the last week, and the prices of the virtual properties in the associated metaverse have also fallen.
In Pavia, a virtual world on the Cardano blockchain, land prices have fallen to $ 90. Virtual batches from various Metaverse projects have lost an average of 40% in value in ETH over the past seven days, which has decreased by 31% in the same period. As a result, these Metaverse properties have lost more than 55% in USD.
Otherside, launched by Yuga Labs, is among the most popular projects in 2022. Despite repeated cyber attacks on the project, investors, especially some American celebrities, continue to show interest.
While Yuga Labs tries to solve Ethereum’s Otherside project, ApeCoin DAO wants to stay on the blockchain. This disagreement had recently triggered a drop in the Apecoin price relative to Bitcoin. The Metaverse properties, on the other hand, suffered their sharp drop in value earlier this week.
Currently, the cheapest Otherside Metaverse plot is 1.7 ETH or $ 2,000. The price is now cheaper than when it was launched.
One week ago, 1 ETH was still at $ 1,900, and the cheapest second land price was 2.3 ETH. So the base price was around $ 4,450. Previously, the ETH price was equivalent to $ 3,000, and virtual plots in Otherside Metaverse cost over 3 ETH at the same time.
Virtual games in The Sandbox drop to $ 1,800
The sandbox is also an example of the sharp devaluation of land prices in Metaverset. This project attracted the greatest interest from American celebrities before the Otherside meta-verse. However, the situation seems to have calmed down somewhat. The sandbox also suffered a sharp drop in value, with land prices falling to $ 1,800.
Of the countless Metaverse projects in the blockchain world, only a few have gained popularity. The number of open virtual worlds that promise to provide free Metaverse parties will increase. Therefore, the demand for platforms with limited virtual plots may decrease in the future.
Sandbox is one of the first Metaverses with a blockchain infrastructure and is one of the few virtual worlds expected to survive. The project could even grow. Mastercard has recently entered into agreements with a number of companies specializing in NFT, including The Sandbox. According to the agreement, it will be possible to use MasterCard on the project’s NFT market.
Decentraland: again highest land price in Metaverset
World-leading companies such as Samsung, Adidas and HSBC have already spent hundreds of thousands of dollars on Decentraland, which opened as the first virtual blockchain universe and has long been considered the project with the most expensive land prices.
MANA is the most held altcoin of Ethereum whales. Since this virtual universe has already been opened, the token is already experiencing a high transaction volume and is also among the handful of coins that have lost less value than Bitcoin in the last week.
World Wide Webb Lands 0.45 ETH
WorldWide Webb Lands is among the most popular blockchain virtual worlds on the market, falling as low as 0.45 ETH. The small apartments on the project grounds are offered for sale via OpenSea, where the price has fallen by 30% in the past week.
The project consists of pixel graphics and has a large number of active users. Small homes in this world are down to $ 500, and medium-sized homes are down to $ 630.
Virtual lots in Pavia Metaverse drop to $ 90
Although most projects clearly lean towards Ethereum, some projects also take the form of Solana, Avalanche, BSC and Cardano. One of these is Pavia, which recently had Metaverse land prices as low as $ 300. It’s currently available at Cardano’s NFT Marketplace JPG Store for only $ 90.
Along with land prices, the prices of NFT by-products have also fallen in all Metaverse projects.
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