The Virtual Land Price and Metaverse platforms have begun to struggle in the face of heavy losses in value.
the chips of Decentraland (MANNA Currency), the sandbox (SAND Currency) and Other Side (BOW Coin) have lost an average of 30% in value in the last week. Metaverse land prices have also decreased.
In other virtual worlds, Pavia plots operating in the Cardano network decreased to $90.
Metaverse land prices have lost an average of 40% in ETH in the last seven days across many metaverse projects. In the same period, EtherealDepreciation reached 31%. Therefore, the loss in value on the metaverse land market exceeds 55% in dollar terms.
Virtual land prices on the Other Side
Launched by Yuga Labs, Otherside is among the hottest projects of 2022. Despite successive cyberattacks, investors and especially some American celebrities continue to show interest in the project.
As Yuga Labs tries to separate Otherside project from Ethereum, APE Coin DAO wants the project to stay on Ethereum. This disagreement had recently started a drop in Apecoin price relative to Bitcoin. However, the depreciation in the metaverse plots took shape this week.
Currently, the price of the cheapest Otherside metaverse land is trading at 1.7 ETH, or $2,000. This amount is also below the price at launch on land.
A week ago, the cheapest land price was around 2.3 ETH. In this period, since the ETH price was at the $1,900 level, the lowest land price was around $4,450. During one period, the price of ETH was $3,000, while Otherside parcels traded for more than 3 ETH.
The Sandbox Lands drops to $1,800
Among the examples of metaverse storylines that have dropped in price is The Sandbox. The Sandbox, which was the project that American celebrities showed the most interest in before Otherside, slowed down. Prices for the project’s land, which was badly damaged during the decline, were reduced to $1,800.
Of the vast number of metaverse projects in the blockchain world, only a few have gained popularity. The number of open virtual universes that promise to provide free metaverse plots will increase. Therefore, the areas of use of platforms with limited land can be reduced.
However, The Sandbox, one of the first projects produced with the blockchain infrastructure, is among the few virtual blockchain universes expected to survive. It can even grow. MasterCard has recently made deals with some NFT-focused companies. Among them is The Sandbox. Under the agreement, it will be possible to use MasterCard in the project’s NFT market.
The most expensive land price in Metaverse: Decentraland again
The world’s leading companies like Samsung, Adidas and HSBC have already spent hundreds of thousands of dollars on Decentraland. Decentraland, which is the first blockchain virtual universe to open, was considered the project with the most expensive land for a long time. While Otherside lost that title after launch, its recent losses offer some clues as to Decentraland’s place in the market.
MANA Coin is among the altcoins that Ethereum whales hold the most. Also, since this virtual universe is already open, there is token traffic in it. MANA Coin is one of the rare tokens that has lost less value than Bitcoin in the last week.
WorldWide Webb lands at 0.45 ETH
WorldWide Webb Lands, one of the most beloved blockchain virtual universes on the market, fell as low as 0.45 ETH. The price of small apartments on the plots of the project that are offered for sale through Open sea It has lost 30% in the last week.
The project consists of pixel graphics and a large number of actively participating users. In it, the small apartments went down to 500 dollars and the medium apartments to 630 dollars.
Virtual Land Prices: Cardano Project Plots Pavia $90
Although there is significant Ethereum dominance in this area, some projects are also taking shape in Solarium (SUN Currency), avalanche (AVAX currency), BSC and Cardano (ADA coin).
In the Pavia project, which is one of them, the metaverse land prices were recently offered for sale for $300, while it is currently available for $90 through the JPG Store, a Cardano NFT market.
Along with land prices, the prices of NFT-oriented byproducts across all metaverse projects also decreased.
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