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, we will be analyzing the statistics from August 14-20.
According to the 7-day data, the VRE market cap for the 10 projects on OneLand increased by 1.84% for the week, reaching 676,129 ETH. This growth can be attributed to rises in land caps for OtherSide (+0.88%), The Sandbox (+6.2%), and Decentraland (+1.96%).
However, the overall crypto market experienced a decline, with ETH seeing a sizable 8.93% drop to $1,685.02. This decline was influenced by a Bitcoin freefall on Thursday, causing VRE caps in USD terms to fall by 6.67% to just $1.14 billion. The total crypto market cap ended the week down 9.67%.
As a result of these market fluctuations, major metaverse tokens such as $SAND (-15.4%), $MANA (-13.9%), and $APE (-20%) plummeted in value. However, $TOPIA was the exception, dipping only 1% as the Web3 “Minecraft” presented its updated blockchain to the world. $TOPIA’s listing on CoinGecko on Wednesday saw it soar close to all-time highs.
Despite the volatility in the market, land trading activity in the Metaverse experienced an upturn. All but two of the 10 projects saw increased sales and volumes, with OneLand-listed projects recording their highest aggregate trading volume numbers in 6 weeks. Notably, Voxels stood out with a 412% increase in volume and a 264% increase in sales. The Sandbox also had a significant sale with a Premium LAND passing hands for 29.99 ETH, marking its top sale in more than 3 months.
Taking a closer look at Otherside, the 7-day volume reached its highest level in 6 weeks, increasing by 61.1%. This increase can be attributed to a series of suspect 18-20 ETH trades on Monday. Additionally, land cap of Otherdeeds achieved its first weekly movement to the upside in 3 months.
For more detailed explanations of the data calculations, you can refer to the documentation on the OneLand website. If you’re interested in exploring more about the Metaverse market and projects, visit the OneLand platform.
OneLand is a one-stop MetaHub that provides Metaverse data and analytics, a Land NFT marketplace, LandFi tools, and a Metaverse MediaHub. Their mission is to make it easy for users to discover, access, stay tuned to, research, and invest in the Metaverse projects they love most.
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Disclaimer: All investment/financial opinions expressed by NFT Plazas are based on personal research and experience of the site moderators. They are intended as educational material only. Individuals are advised to fully research any product before making any investment decisions.
About OneLand: OneLand is a financial platform for virtual lands in the metaverse. They provide a comprehensive suite of tools and services to help users navigate and invest in the Metaverse market. Through their platform, users can access market data, participate in land trading, and stay updated with the latest news and developments in the Metaverse.
