|
What the numbers say: A recent report from crypto data website CoinGecko has shown that virtual land prices in the top five metaverse platforms are currently quite far from the peaks in 2022. Otherdeeds NFTs, which are used to hold a virtual land in Yuga Labs' Otherside metaverse, are currently traded at 1.09 Ether (ETH), down from the last year's peak price of 5 ETH. Somnium's virtual lands saw the biggest difference with the current 0.37 ETH price, much lower than the peak price of 6.05 ETH in 2022. On the other hand, the virtual land prices in The Sandbox, Decentraland, and Voxels retreated under 1 ETH, with a significant drop from their peaks last year. Details: The report has also pointed out that Otherside currently hosts the most expensive virtual lands, with a 1.09 ETH price. In the top five, Otherdeeds virtual land NFTs are respectively followed by Decentraland, The Sandbox, Somnium, and Voxels. Relevance: Earlier this year, Web3 data platform DappRadar's report also revealed that both virtual land sales and trading volumes saw a significant increase in Q1 despite the price decline. The number of virtual land trades hit nearly 147,000 in the metaverse platforms during the specified period, reaching a new all-time high. The quarter also witnessed the metaverse users buying nearly $311M of virtual land NFTs. The Otherside metaverse dominated the virtual land sales in Q1, with Otherdeed NFTs reaching $222M in trading volume, 237% up from the previous quarter. Brands that should care: Createra Genesis Land and Axie Infinity became other virtual worlds reaching high amounts in trading volumes last quarter, though they are currently not among the top five metaverse platforms with the highest virtual land prices. |
