Welcome to Metaverse Market Analysis! Every Monday we bring you the latest stats and data on the overall state of the Metaverse market. This column is in partnership with the incredible team from OneLand, a financial platform for virtual lands in the Metaverse. This week brings the OneLand Metaverse Market Analysis stats for February 13 -19, 2023.
OneLand data shows total land caps (7D) for the 10 metaverse projects listed down 0.68% to 935,764 ETH, but up 11.2% in USD as both $ETH and the overall crypto market cap had a positive week. Trading volume in USD terms was up an incredible 29%, on the back of 7-day increases from both The Sandbox (13.2%) and, particularly, Otherside (+24.3%).
Overall, there were a lot more sales last week, but at lower prices – 7 of the 10 listed projects recorded higher sales counts, coinciding with weaker average prices across the board. More buyers were propelled into the metaverse VRE market this week, and so it makes sense that they would come in at the low end, at least in terms of the value of their in-wallet (i.e. crypto) currencies.
Context:
- Sales (-21%) and volume (-27.2%) of Decentraland LAND have been on a downward trend since the start of the year, notably since hitting its top Daily Trading Volume in 8.5 months on Jan 3.
- NFT Worlds has outranked Decentraland in both volume (-16%) and sales (-5.4%) for over a month now.
- Metaverse tokens rally ($SAND +11.4%, $MANA +9.1%, $WRLD +7%) – in line with $ETH (+11%) and overall crypto market (+9.8%).
Highlight: Worldwide Webb
Worldwide Webb Apartments record a ripper of a Saturday, recording a massive 191 daily sales, more than twice that of Otherside.
It caused weekly sales volume to rocket 449% to 77.94 ETH on the back of 247 independent trades (+474%).
Included was a top sale for 9.0 ETH for a Penthouse, only the second sale above 2.55 ETH in the last 8 months. But even this could not raise the land cap in ETH terms (-1%), as a bunch of sub-0.3 ETH trades on the day pulled the daily average price down 8.8% below its current 30-day average.
But in USD terms, Worldwide Webb 7-day land cap was up 10.8% in line with the total land cap of OneLand-listed projects and the overall crypto market.
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For explanations of our data calculations, check https://docs.oneland.world.
For comprehensive metaverse market and project data, check oneland.world.
Join us Tuesdays at 5am UTC (that’s Paris 6am, Beijing 1pm, Sydney 4pm) for a Metaverse Data Dive. In the process, we’ll show you how easy it is to navigateoneland.world and hone in on the data you want.
