Welcome to Metaverse Market Analysis! Every Monday we bring you the latest statistics and data on the general state of the Metaverse market. This column is in collaboration with the incredible team at OneLand, a financial platform for virtual lands in the Metaverse. This week, the OneLand brings Metaverse Market Analysis stats for July 31 – August 6.
Stake your TheSandbox LAND and earn 3.29%* APY. Wager your $SAND and earn 9.33%* APY (*8.7.2023)
7-day data shows that the VRE market cap for the 10 projects on OneLand is down for the 11th week in a row, this time down 0.8% to 662,614 ETH (or -2.58% to $1.211 billion). It was striking that none of the land covers of the 10 projects were green.
The total global NFT market cap (down 21.6% since this time in June) remained relatively stable during the week, down 0.32% to 3.09 million ETH. Meanwhile, the price of $ETH fell 1.85% to $1,827.24.
Meta Rankings – VRE Market Cap (7D)Trading volumes have been a mixed bag, with Decentraland (+40.5%) seeing slightly more activity than in recent weeks, while also seeing minimal gains for The Sandbox, Worldwide Webb and Treeverse.
Last week, Somnium Space’s massive V3 update sparked a surge in land pack sales (+650% for the week), notably 10 on Thursday (though seemingly all from the same buyer?) – the highest number of daily sales since April 2022!
Thus, its 7-day volume surged (+391.5% to 10.59 ETH), while its native token $CUBE also surged (+7.56%), despite most other crypto and metaverse tokens ( incl. $ETH, $MANA, $SAND & $APEcoin) fell.
Somnium Space’s V3 update led to the largest daily land sales count in 15 months.The average price of an Otherdeed continues to drop, falling below the 1 ETH mark this week (-13.17%). half of its value just 2 months ago.
Sales numbers and trading volumes at Otherside reflect the current NFT market, top selling this week at just 8.99 ETH. Meanwhile, average weekly top sales have dropped from 103 ETH in May to 19.13 ETH in June and then to 10.1 ETH in July.
Prices at Otherside have been on a rocky downward spiral since launch. Will they hit rock bottom?For an explanation of our data calculations, see docs.oneland.world/. For metaverse market and project data, visit oneland.world.
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OneLand is an all-encompassing MetaHub – featuring Metaverse data and analytics, Land NFT marketplace, LandFi tools, and Metaverse MediaHub. Our mission is to make it easy to discover, access, stay informed, research and invest in the metaverse projects you love the most.
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*All NFT Plazas investment/financial opinions are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research each product before making any kind of investment.