Welcome to the Metaverse Market Analysis, a weekly column that provides the latest stats and data on the state of the Metaverse market. In partnership with OneLand, a financial platform for virtual LANDs in the Metaverse, we bring you the OneLand Metaverse Market Analysis stats for Nov 13 – 19.
According to the OneLand 7D data, aggregate LAND market cap for the ten listed projects last week was down 1.27% to 661,169 ETH, with the USD equivalent down 1.01% to $1.33 billion.
Last week was a more stable week in the overall crypto & NFT markets, with volumes down, but not in certain metaverse LANDs. Sales figures and trading volume soared 287% and 217% respectively with a midweek sell-off at HYTOPIA, likely related to the project dispelling rumors of a move away from Web3. As a result, HYTOPIA experienced its first 7D drop in its LAND cap (-6.01%) in 3 months. Decentraland (-6.8%) shed over 9k ETH in LANDs cap as it retains its focus on features and live events.
Smaller metaverse projects, in terms of virtual real estate caps, also saw heightened trading last week. More hype about Somnium Space’s VR headset led to a barrage of end-of-week trades, with 7D sales and volume booming 283% and 356% respectively. While at Treeverse, 6.21 ETH of trading volume on Sunday rounded out a week that saw the game’s top LAND sale in 6 months, with the average price now up 118% in the past month.
The average price of an Otherdeed was up 31.71% this week on the back of 4 trades that ranged in price from 13.3 to 15 ETH. It helped maintain a bigger 7D trading volume while helping Otherside’s land market cap stay north of 340k ETH.
As we closely analyze the trends in the Metaverse market, it’s important to emphasize that these numbers represent the dynamic nature of the virtual real estate market within the Metaverse. The increase in trading volumes and overall market cap speaks to the growing interest in virtual real estate as part of the Metaverse economy. It’s evident that different projects are driving these trends, whether through events, new features, or technological advancements such as VR headsets.
For more details and explanations of data calculations, you can check the OneLand website. OneLand is a one-stop MetaHub providing Metaverse data and analytics, LAND NFT marketplace, LANDFi tools, and Metaverse MediaHub. Their mission is to make it easy to discover, access, stay tuned to, research, and invest in the metaverse projects you love most.
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Finally, it’s important to note that all investment and financial opinions expressed by NFT Plazas are from the personal research and experience of their site moderators and are intended as educational material only. Individuals are required to fully research any product before making any kind of investment.
In conclusion, the state of the Metaverse market is dynamic, and there are many opportunities for growth and investment within it. Stay tuned for more updates on the ever-evolving landscape of the Metaverse market.