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Virtual lots: dumping prices in the crypto winter

 


Metaverse platforms and virtual property prices have struggled to stay afloat given the sharp declines in value.


The Decentraland (MANA), The Sandbox (SAND) and Otherside (APE) tokens have lost an average of 30% in value over the last week and the prices of the virtual properties in the associated metaverse have also fallen.


In Pavia, a virtual world on the Cardano blockchain, land prices have dropped to $90. Virtual lots from various Metaverse projects have lost an average of 40% in value in ETH over the past seven days, falling 31% over the same period. As a result, the properties of these Metaverses have lost more than 55% in USD terms.


Virtual lot prices in the Otherside Metaverse

Launched by Yuga Labs, Otherside is among the most popular projects of 2022. Despite repeated cyber attacks on the project, investors, particularly some US celebrities, continue to show interest.


While Yuga Labs tries to solve Ethereum 's Otherside project , the ApeCoin DAO wants to stay on the blockchain. This disagreement had recently triggered a drop in Apecoin price relative to Bitcoin . The Metaverse properties, on the other hand, suffered their sharp drop in value only this week.


Currently, the cheapest Otherside Metaverse plot is 1.7 ETH or $2,000. The price is now cheaper than when it was launched.


A week ago, 1 ETH was still at 1,900 USD and the cheapest otherside land price was 2.3 ETH. So the land price was about $4,450. Previously, the ETH price was equivalent to USD 3,000 and virtual plots in the Otherside Metaverse cost over 3 ETH at the same time.

Virtual lots in The Sandbox drop to $1,800

The Sandbox is also an example of the strong devaluation of land prices in the Metaverse. This project drew the most interest from US celebrities before the Otherside metaverse. However, the situation seems to have calmed down somewhat. The Sandbox also suffered a sharp fall in value, with land prices falling to $1,800.


Of the countless Metaverse projects in the blockchain world, only a few have gained popularity. The number of open virtual worlds that promise to provide free Metaverse lots will increase. Therefore, the demand for platforms with limited virtual plots may decrease in the future.


The Sandbox is one of the first Metaverses with a blockchain infrastructure and is one of the few virtual worlds expected to survive. The project could even grow. Mastercard has recently signed deals with a number of companies specializing in NFT, including The Sandbox. According to the agreement, it will be possible to use MasterCard in the project's NFT market.


Decentraland: again highest land price in the Metaverse

World-leading companies such as Samsung, Adidas and HSBC have already spent hundreds of thousands of dollars on Decentraland, which opened as the first blockchain virtual universe and has long been considered the project with the most expensive land prices.


MANA is the most held altcoin by Ethereum whales. Since this virtual universe has already been opened, the token is already seeing a high transaction volume and is also among the handful of coins that have lost less value than Bitcoin in the last week .


WorldWide Webb Lands 0,45 ETH

WorldWide Webb Lands is among the most popular blockchain virtual worlds on the market, falling as low as 0.45 ETH. The small apartments on the project's plots are offered for sale via OpenSea, where the price has fallen by 30% in the last week.


The project consists of pixel graphics and has a large number of active users. Small homes in this world are down to $500 and medium-sized homes are down to $630.


Virtual lots in the Pavia Metaverse drop to $90

Although most projects are clearly leaning towards Ethereum , some projects are also taking shape on Solana, Avalanche, BSC and Cardano . One of these is Pavia, which recently had Metaverse land prices as low as $300. It's currently available on Cardano's NFT marketplace JPG Store for just $90.


Along with the land prices, the prices of the NFT by-products have also decreased in all Metaverse projects.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

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