Welcome to Metaverse Market Analysis! Every Monday, we bring you the latest statistics and data on the overall state of the Metaverse market. This column is made possible through our partnership with the incredible team from OneLand, a financial platform for virtual lands in the Metaverse. Today, we will be taking a closer look at the OneLand Metaverse Market Analysis stats for the week of August 7th to August 13th.
According to the 7-day data, the Virtual Real Estate (VRE) market cap for the 10 projects on OneLand saw a marginal increase of 0.17%, reaching 663,914 ETH. In terms of USD, the market cap increased by 0.79% to $1.221 billion. Interestingly, this marks the first aggregate land cap rise in the past three months. However, it is worth noting that the price of ETH also rose by 0.66%, ending the week at $1,839.32.
During this week, the Otherside project experienced a significant increase in trade volume, with a growth of 50.6%. The week started with the highest sale in two months, with a transaction of 19.5 ETH. On Sunday, the project achieved another major sale of 19.55 ETH, pushing OneLand’s Metaverse Heat Index to a high of 91.4.
Despite the recovering trade volume for Otherside, the overall market conditions led to a deteriorating land cap, which has been declining for nine consecutive weeks. Additionally, the number of sales decreased by 49.6%. However, the overall trading volume for all the projects on OneLand increased by 38% for the week. Moreover, the 7-day trade volume of all non-fungible tokens (NFTs) showed a pickup of 26.3%.
In other news, BYOPills saw some promising signs of recovery during this week. Two BYOLand sales of 0.45 and 0.5 ETH marked the beginning of a more positive trend. Additionally, all major metrics for BYOLands were in the green, including the land cap, which increased for the first time in two months.
On the other hand, Somnium Space experienced a slowdown in activity following the release of its v3 update. The project recorded only four parcel sales and an overall trading volume of 2.34 ETH for the week.
For those interested, OneLand offers the opportunity to stake your Sandbox LAND and/or $SAND. More information and instructions on how to participate can be found here.
OneLand is a comprehensive MetaHub that provides Metaverse data and analytics, a Land NFT marketplace, LandFi tools, and Metaverse MediaHub. Its mission is to make it easy for users to discover, access, stay tuned to, research, and invest in the Metaverse projects they love.
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We hope you found this Metaverse Market Analysis informative. Stay tuned for more updates and insights from the world of virtual reality and NFTs!
