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 March 6 – 12, 2023.
OneLand 7-day data shows another stable week of aggregate land caps for the 10 projects listed, up 0.63% to 933,202 ETH (or $1.445bn). In fact, all suffered 7-day dips in market cap except for Otherside which YTD is on a bull run. ETH was up 1.4% for the week.
7-day trading volumes were down across the board, with the exception of NFT Worlds and BYOLands.
Context:
- The Sandbox was not the only project to experience meagre Lands trading volume last week, but 18 sales (down 74.6%) was a figure so paltry that it was only last seen in 2020.
- NFT Worlds was an exception, with trading action rebounding following last week’s dip. 7-day sales and trading volume rose 50% and 71.2% respectively, with a 4.9 ETH sale representing its highest in 6 months.
Highlight: Otherside
The intent was not to shine the light on Otherside again this week, but that idea went out the window as soon as Yuga Labs dropped the release date for The Second Trip. Immediately, trade in Otherdeeds dropped off significantly as HODLers HODLed.
Metaverse land caps were down across the board this week – apart from Otherside, of course, which rose another 3.85% to pass the cool half-a-million ETH mark. Average prices have been rising YTD, however this week they soared 35.77% to 6.36 ETH – about $10,000!
Otherdeed holder numbers have been dropping week-on-week for 8 months, but not only did they stabilize (-0.1%) this week, they went up as soon as the announcement came. HODLing appears the name of the game now, as die-hard Voyagers struggle to contain themselves for March 25. Expect prices to keep ticking upwards before then?
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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.
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