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 10-16, 2023.
OneLand 7-day data shows VRE cap for the 10 listed projects down again (-0.1%) for an 8th straight week to 695,728 ETH (or $1.338 billion). ETH rose 3.24% to $1,923.69, as XRP fired a crypto rally.
Meanwhile, global NFT cap actually rose this week for the first time since May, up 3.12% to 3.3m ETH (or $6.34bn, +5.14%), though volumes crashed 42.8%.
LAND sales at The Sandbox exploded this week on the launch of its Infinite Pulse LAND Sale Friday. 886 individual LAND trades boosted 7D volume by 383.31% to 273.94 ETH, firing OneLand’s Metaverse Heat Index into the red zone.
However, seemingly ever-decreasing prices weathered any potential increase in LAND cap, up by a miniscule 0.33%, its first weekly increase since late May.
If you believe in the potential of The Sandbox – which just dropped notice that LAND-owner experiences will go live before the EOTY, then it might be an idea to start taking a closeful watch.
Somnium Space’s volume rose significantly last week, once Plot 5089 – a limited-edition plot containing a teleportation hub – traded hands for 6.0 ETH.
Most other projects’ 7D volumes were stable at best, though most suffered steep falls. Decentraland, on the cusp of its Metaverse Art Week, raked in a miserly 7.9 ETH (-68.3%), though land cap rose for a 4th week.
For its part, trading volume of Otherdeeds (-43% at 234.3 ETH) retracted once more to a mere third of what it was pulling in 2 months back.
Meanwhile, BYOLands volume slumped 74.7% on the back of just 5 trades. We won’t have long to wait and see, though, if the launch of their long-anticipated BYORacer game will impels any revival or not.
For explanations of our data calculations, check docs.oneland.world/. For metaverse market and project data, check oneland.world.
OneLand is a 1-stop MetaHub — providing Metaverse data & analytics, Land NFT marketplace, LandFi tools and Metaverse MediaHub. Our 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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