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 27 – March 5, 2023.
OneLand 7-day data shows total land cap for the 10 projects listed stable (-0.23%) in ETH terms at 927,287 ETH, or approx. $1.45 billion (-4.9%). $ETH fell 4.68%, about 30% worse than the overall crypto market cap (-3.3%), with $SAND -13.9% and $MANA -12.1%.
7-day trading volumes (-41.7%) were down significantly across the board this week, except for that of Decentraland.
- Though the average prices was up at Decentraland, due merely to its highest LAND sale in 6 weeks, land market cap dipped a massive 12.8% to hit its lowest in over 6 months.
- Somnium Space records no weekly sales for only its second time since just prior to the bull run of late 2021-early 2022.
- Trading activity of plots in upcoming MMORPG Treeverse fell starkly this week (coming on the heels of news of a downsize in its workforce) with sales sinking to just 9 (-78%), and average prices falling to their lowest since July last year
Excitement in the Otherside community has been building of late as the impending release of the Second Trip approaches. Average prices are on the rise, in the past 7 days up another 14.9% to 4.69 ETH. Meanwhile, Twitter Spaces like those from Otherside fan communities @NFTea, OtherSpace and OtherGuild continue to pump the vibes and inform the public.
Yet even more so, belief has been firming in the metaverse project on the back of Yuga Labs flexing its muscles in other projects such as endless runner game Dookey Dash, their acquisition of 10KTF, and the recent launch of Bitcoin-based Ordinals NFT collection TwelveFold.
Though volumes (-33.3%) and sales (-41.8%) were down this week in line with other projects, Otherdeeds’ land cap – at 487,403 ETH (+5.8%), or $762.6 million – has now risen week-on-week for 14 of the past 15 weeks, and is up 26.6% YTD.
For explanations of our data calculations, check https://docs.oneland.world.
For comprehensive metaverse market and project data, check oneland.world.
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