The land traders of the metaverse lose their fortunes

The land traders of the metaverse lose their fortunes

The real price of land in leading ecosystems has fallen this year. This has caused huge losses to speculators who have been selling recently.

On May 26, CoinGecko co-founder Bobby Ong gave an update on the land price change. He compared those who have reached their peak with what they are reaching now – and the picture is not good for landowners.

Metaverse land was popular during the bull market of 2021 and in the first half of 2022. True plots were sought at high prices. In addition, large international brands even bought large tracts of high-quality land.

The virtual world is corrupting

Flash forward to the middle of 2023, and the internet landscape seems empty for those who need to eradicate it.

The most expensive land right now is Otherdeeds by Otherside, at 1.09 ETH (around $1,970). The project was launched by Bored Ape Yacht Club (BAYC) studio Yuga Labs. However, the price has fallen by 78% since their peak, when the plot decreased by 5 ETH.

According to research, in May 2022, the underground price of Otherdeeds increased to 7.5 ETH.

Decentraland virtual land is currently trading for 0.64 ETH or around $1,156 at current prices. This price is down 88% from its peak of 5.24 ETH.

Land prices in bad shape, then and now – Twitter/@bobbyng

The price of Sandbox land has dropped by 90% from its peak of 4.2 ETH. Today, the compound costs around 0.43 ETH or $777 USD.

Additionally, smaller projects such as Somnium and Voxels saw land prices drop by 94%.

The same is true for NFTs, where popular models have fallen in price this year. Collections such as Doodles, Moonbirds and Goblintown have seen NFT prices plummet.

Overall, NFT sales volume dropped by 84% from April 2022 to April 2023, according to CryptoSlam.

Metaverse Earth is not the only thing that has fallen, as signs related to ecosystem projects are also down.

Sandbox (SAND) is crushed and remains down 94% from its ATH of $8.40 in November 2021. At the time of writing, the metaverse token was only $0.50.

Decentraland (MANA) suffered a similar fate, dropping 92% from its high of $5.85. today, MANA is sold for 0.46 $.

Axie Infinity’s once-premium token AXS is suffering even more. This precious commodity has lost up to 96% from its all-time high of $165. Traders can currently buy AXS tokens for only $6.82.

Built by Ari10. BLIK payment is possibleBuilt by Ari10. BLIK payment is possible

Details

All information contained on our website is published in good faith and for general information purposes only. Any action you take in relation to the information on our website is at your own risk.

Related posts:

Stellantis accelerates the implementation of the change plan in contracts with traders. When will it happen? | French.plStellantis accelerates the implementation of the change plan in contracts with traders. When will it happen? | French.pl Traders lead a large uptake in the veterinary clinic marketTraders lead a large uptake in the veterinary clinic market Tesla is slashing the prices of its flagship models. Global traders are responding rapidlyTesla is slashing the prices of its flagship models. Global traders are responding rapidly Cupra Dark Rebel: Virtual Showcar in the MetaverseCupra Dark Rebel: Virtual Showcar in the Metaverse Metahype CUPRA on the virtual island of the metaverseMetahype CUPRA on the virtual island of the metaverse Metahype: Cupra brings hip brands to the MetaverseMetahype: Cupra brings hip brands to the Metaverse 7 companies that have shops in the metaverse. But is it worth it?7 companies that have shops in the metaverse. But is it worth it? Take a spin in the Metaverse in an old carTake a spin in the Metaverse in an old car AI further enhances the Metaverse as the technology of the future – Economy & Volkswagen – NewsAI further enhances the Metaverse as the technology of the future – Economy & Volkswagen – News THEY WALK IN FRONT OF POLICE OFFICERS-THEY LOSE THEIR LICENSES.THEY WALK IN FRONT OF POLICE OFFICERS-THEY LOSE THEIR LICENSES. What types of electricity may soon lose the ecological bonus?What types of electricity may soon lose the ecological bonus? the car that makes you lose your mind (and your memory)the car that makes you lose your mind (and your memory) Did Russia lose four fighter jets in one day? We already know thisDid Russia lose four fighter jets in one day? We already know this Thuringia: HERE hundreds of workers may lose their jobsThuringia: HERE hundreds of workers may lose their jobs Confartigianato Arezzo: “Good news about Fimer, but let’s not lose our focus on related industries”Confartigianato Arezzo: “Good news about Fimer, but let’s not lose our focus on related industries” Pierluigi and Michela lose a leg and together they become athletesPierluigi and Michela lose a leg and together they become athletes This is the cost if you lose the key to your Bugatti ChironThis is the cost if you lose the key to your Bugatti Chiron The landline continues to lose importance – Economy & Volkswagen – NewsThe landline continues to lose importance – Economy & Volkswagen – News The heir to Fiat and Ferrari can lose almost everything, his own mother is againstThe heir to Fiat and Ferrari can lose almost everything, his own mother is against Land Rover Defender 75th Limited Edition from Jaguar Land Rover dealer JB Cars in MonzaLand Rover Defender 75th Limited Edition from Jaguar Land Rover dealer JB Cars in Monza Off road for 8 people! New Land Rover Defender 130 in Land Rover ZdunekOff road for 8 people! New Land Rover Defender 130 in Land Rover Zdunek Celebrating 75 years of Land Rover – Defender 75th Limited Edition at Land Rover ZdunekCelebrating 75 years of Land Rover – Defender 75th Limited Edition at Land Rover Zdunek Electric turn | Jaguar Land Rover reorganizes its brands and changes its nameElectric turn | Jaguar Land Rover reorganizes its brands and changes its name Land Rover Defender 130 review (2023); XXL GuardianLand Rover Defender 130 review (2023); XXL Guardian Land Rover DisappearsLand Rover Disappears The Land Rover Defender enters service with the British Red CrossThe Land Rover Defender enters service with the British Red Cross The 2024 Land Rover Range Rover SV makes its debut – it has a V8 from BMWThe 2024 Land Rover Range Rover SV makes its debut – it has a V8 from BMW Land Rover Festival in De Steeg! Next weekend. – Vintage cars in Auto Motor KlassiekLand Rover Festival in De Steeg! Next weekend. – Vintage cars in Auto Motor Klassiek What is the debut of the Land Rover Defender 130?What is the debut of the Land Rover Defender 130? I was driving a new Land Rovers Defender. One had eight seats and the other had eight cylindersI was driving a new Land Rovers Defender. One had eight seats and the other had eight cylinders
Avatar for Amani
Amani