Metaverse Market Analysis: Exploring the State of the Virtual Blockchain Worlds
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 delving into the OneLand Metaverse Market Analysis stats for the week of Oct 9 – 15.
Stake your The Sandbox LAND & earn 3.09% APY. Stake your $SAND & earn 7.47% APY* (*10.16.2023)
OneLand 7D data shows aggregate LAND cap for the 10 projects listed up 0.37% to 656,739 ETH (-3.6% to $1.03bn). Let’s take a closer look at the individual projects. Decentraland saw a positive turnaround with a 4.24% increase in LAND cap, while Otherside experienced a significant drop in LAND cap, reaching its lowest point to date.
The market experienced a decline over the past week, with ETH falling by 4.6% to $1,558.31. This drop in ETH value had an impact on NFT values, resulting in a total NFT cap decrease of 0.75% to 2.65m ETH and a 4.94% decrease to $4.23b USD. Most Metaverse tokens, including $SAND, $MANA, $APE, and $TOPIA, also saw a decline in value.
HYTOPIA had a notable achievement during the week, recording its highest LAND parcel sale of all time. Parcel #881 exchanged wallets for 11 ETH, and the average price for HYTOPIA LAND parcels remained strong at 2.7 ETH. Additionally, the floor price for HYTOPIA reached an impressive 1.9 ETH.
On the other hand, sales for Otherdeeds, a project in Otherside, plummeted last week. Only 60 trades were made, resulting in a trading volume of only 62.1 ETH, a severe decrease of 74.62%. As a result, Otherside’s LAND cap continued to decline, reaching 321,864 ETH.
Somnium Space, following its VR1 update, experienced a second consecutive week of active LAND trading. Surprisingly, there were no high-priced purchases during these weeks, indicating a sustained trading volume. The majority of sales took place over the weekend, with Sunday recording Somnium Space’s highest daily trading volume in 6 weeks.
For more detailed explanations of our data calculations, please refer to docs.oneland.world. To stay up to date with the latest Metaverse market and project data, visit oneland.world.
OneLand is a 1-stop MetaHub that provides Metaverse data and analytics, LAND NFT marketplace, LandFi tools, and Metaverse MediaHub. Our 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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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
About the Author:
Leah is a digital art fanatic who brings a unique perspective to NFT news.
