Huge real estate investments in the metaverse experience huge losses

Huge real estate investments in the metaverse experience huge losses

Compared to their peak in 2022, virtual land prices on some prominent routes have fallen significantly, with many depreciating by nearly 90%.

Report published by CoinGecko highlights how reputations in popular metaverses, such as Otherdeeds, The Sandbox, Decentraland, Somnium, and Voxels, all dropped in value over the period we’re evaluating, from January 1, 2022 to May 24, 2023.

Land price comparison in Metaverse. Source: CoinGecko

As indicated above, the most expensive property at the moment, Other Actions and Otherside, which once yielded assets for 5 Ether (ETH), currently trading at 1.09 ETH, a decrease of 78.2%. Properties Sandbox and Decentraland are also down 89.76% and 87.88%, respectively.

CoinGecko highlights how the cheapest land in the metaverse is found in Voxels, which traded for 0.16 ETH as of May 24. Voxels virtual properties suffered a 93.8% loss, as did Somnium. Despite the alarming price drop, Voxels remains optimistic about recovery. In fact, Twitter profile A Voxels official said:

“We are number 5! We are number 5! (It hurts me too, but in winter for winter, the only thing to do is to keep building).”

The tech giants and the big economy continue test the ability of the metaverse through investments and partnerships.

As recently presented, Apple will soon release virtual reality headsetswhich could revive international interest in the metaverse.

CT is completely unaware that Apple is launching a mixed reality headset in 3 weeks

Metaverse Shitcoins will go up so much it’s not even funny.

But you idiots keep buying the inducements

All right

In an interview with Cointelegraph, eToro market analyst Josh Gilbert said the new headset could launch the market, considering Apple’s proven track record of delivering high-quality, market-disrupting products. Gilbert said:

“When Apple does that, it usually does well.”

According to a report by Apple product expert Mark Gurhman, Apple’s new headset will be unveiled on June 5.

Translated by Walter Rizzo