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 brings the OneLand Metaverse Market Analysis stats for July 24-30, 2023.
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OneLand data shows VRE market cap for the 10 projects down for a 10th straight week, this time by 2.15% to 667,988 ETH (or -3.54% to $1.244 billion). Meanwhile, ETH fell by 1.43% to $1,861.76.
Meta Rankings – VRE Market Cap (7D)The popularity of the metaverse for investors has been trending downwards over recent months, not just due to a macro downturn or bear market, but because of it being totally overshadowed by “the next big thing” AI.
Market Value & Land Prices (1Y) have been on a downward trend all year.Yet another big downturn in 7D trading volume for Otherside (-34% to just 162 ETH), and with little support from The Sandbox (whose post-sale volume sank to just 51.5 ETH, its lowest in several months), saw aggregate volume for the 10 projects on OneLand crash to near half of what it was just 4 weeks ago at the end of Q2.
Meta Rankings – VRE Trading Volume (7D)Meanwhile, Somnium Space land parcels might be getting on a few more investor radars of late, with some more consistency in sales over recent months and upward trending prices (Somnium Space parcels are traditionally more expensive than other VRE), not to mention the big, fresh announcement of Version 3.0.
Its economy albeit small, VR-focused metaverse Somnium Space notably is the one listed project with land cap heading north, while the only other project with land cap in the green this week was another legendary player Voxels. As mentioned last week, trading has picked up at Voxels; and a second consecutive week of bumping sales (+29%) and volume (+50%) saw the metaverse’s best daily volume in 3.5 mths, and top sale in 4mths.
Voxels has just witnessed consecutive weeks of booming trading activity.Over at Arcade, and a top land sale in 2 months at the gaming metaverse helped drive up 7D volume (+17.6%) and its average price (+106%), the buyer bundling 4 different lands into the one transaction.
Top Weekly Performer by Average Price / Metaverse Heat Index (7D)Meanwhile, Decentraland’s LAND price enjoyed a minimal correction (+24%), while BYOLands look to be heading back towards the 1 ETH mark again following the boost given to the community by the Beta launch of its mobile Racer game.
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For explanations of our data calculations, check docs.oneland.world/. For metaverse market and project data, check oneland.world.
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