Welcome to Metaverse Market Analysis! We are excited to bring you the latest updates on the rapidly growing Metaverse market. This column is in partnership with OneLand, a leading financial platform for virtual lands in the Metaverse. Our goal is to provide you with valuable insights and data to help you navigate the ever-changing landscape of this exciting new industry.
In this week’s analysis, we will be looking at the OneLand Metaverse Market stats for the period of June 26th to July 2nd, 2023. Let’s dive in!
Meta Rankings – Market Cap (7D)
According to OneLand’s 7-day data, the total land cap for the top 10 Metaverse projects dipped slightly by 0.23% to 704,386 ETH, which is equivalent to $1.364 billion. However, it is worth noting that ETH continued its price rally, with a 1.99% increase to $1,937.88.
Despite the slight dip in land market cap, Metaverse lands still outperformed non-land NFTs, with the 10-project aggregate land market cap decreasing by 8.46% for the month, compared to a 21.46% decrease for the overall NFT market.
Top Weekly Performer by Average Price / MV Heat Index (7D)
Decentraland had a fantastic week with a second consecutive rise in trade volumes, experiencing a 72.6% increase to 34.99 ETH. Nearly half of all land sales in Decentraland were Estates, and the Pride festival saw a record-breaking sale of 13.81 ETH, marking both the top-priced land sale and the highest daily volume in 3 months.
This surge in trade volume led to a significant increase in the average price of Decentraland land, which soared by 285%. However, it’s important to note that price movements in Decentraland should be taken with caution, as sales in this project typically reach only a fraction of the prices seen in other Metaverse projects like The Sandbox or Otherside.
Meanwhile, Otherside’s 7-day average price reached its lowest point in several months, with no sale of an Otherdeed higher than 24.0 ETH since mid-May. On a positive note, Endless Studio’s MMORPG wonderchild Treeverse showed promise with a drop in land cap but an increase in trading volume, sales count, and average price for the week. Trading of Treeverse plots is becoming more active.
For detailed explanations of our data calculations, please refer to the documentation available on docs.oneland.world/. To stay up-to-date with the latest metaverse market and project data, visit oneland.world.
At OneLand, we strive to be your one-stop MetaHub for all things related to the Metaverse. We provide comprehensive metaverse data and analytics, a Land NFT marketplace, LandFi tools, and a Metaverse MediaHub. Our mission is to make it easy for you to discover, access, research, and invest in the metaverse projects you love the most.
Stay connected with us on Twitter for the latest updates and insights.
If you want to dive even deeper into the world of NFTs and the Metaverse, we invite you to join NFT Plazas. By joining our community, you will gain access to our weekly newsletter, where we share exclusive content and updates. Additionally, our Discord channel is a great place to connect with like-minded individuals who share your passion for the Metaverse.
Follow us on Twitter, like us on Facebook, and follow us on Instagram to stay informed about the latest trends and developments in the Metaverse.
Finally, we would like to remind you that all investment and financial opinions expressed by NFT Plazas are based on personal research and experience. They are solely intended for educational purposes, and individuals are advised to conduct thorough research before making any investment decisions.
Thank you for joining us in this week’s Metaverse Market Analysis. We look forward to providing you with more valuable insights in the future.
