Welcome to Metaverse Market Evaluation! Each week we carry you the most recent stats and information on the general state of the Metaverse market. This column is in partnership with the unimaginable staff from OneLand, a monetary platform for digital lands within the Metaverse.

Highlights

• FTX freezes funds, then information for chapter in a historic week for crypto & the way forward for decentralization.
• NFTs, together with VRE, are usually not immune as $ETH tumbles and land caps stumble.
• Otherside’s outcomes are blended, however the highest Otherdeed sale since September stands out…
• The 2022 Metaverse Music Competition attracts consideration to Decentraland, but makes little affect on its LANDs economic system.

Market Knowledge & Evaluation

In what turned out to be a historic week for crypto, the Metaverse was not immune from the fallout from the collapse of the world’s second-largest alternate FTX. OneLand’s Metaverse Warmth Index signifies weakening commerce sentiment from mid-week, as information of FTX’s lightning descent into chapter 11 and whole pariah solid its shadow the world over of blockchain.

OneLand 7-day information reveals a close to 25% lower in total land market cap for the ten listed initiatives to 863,320.78 ETH or approx. $1.055 billion. In USD phrases, it represented a slashing of $347 million off land caps in a single week, as cryptocurrency and NFT markets crashed, the value of ETH sinking 22.3%.

Whole quantity was up week-on-week on the again of an uptick in buying and selling exercise of Otherdeeds (+132%) however not Decentraland (-10.3%) or The Sandbox (-12.9%), whereas the mixture variety of distinctive landholders appeared regular.

The enhance in 7-day volumes and gross sales (up 446 on the earlier week) nonetheless might do nothing to rescue Otherside from recording its fourth consecutive week of falling land cap (-4.5%). The 7-day common value was up marginally to 2.16 ETH, however remains to be a 50+% fall from 4.46 ETH on Oct 1. Ongoing chatter a few market backside will probably be a part of the material of any bear market, however is the best recorded sale since a 200 WETH buy on Sep 27 an indication of issues to return?

In the meantime, over at Decentraland, the second annual Metaverse Music Competition kicked off Thursday simply as the entire sickly fiasco involving FTX and SBF had shortly advanced right into a cleaning soap opera and overtook Twitter.

It might have crashed the celebration for a lot of (and didn’t do a lot for the lands market), however for true Decentralanders, particularly these with computer systems and web connections highly effective sufficient to keep away from the lags, it was a welcome reduction. Some spectacular stage designs, stunning metaverse structure alongside distinctive wearables from the group all set to the musical backdrop of 180+ artists from world wide showcased the potential of digital worlds as a spot to get down and celebration.

Inevitable criticism that the occasion itself didn’t match the encompassing hype will comply with, however critically, what’s new?

Honing in throughout the week, a relative flurry of gross sales from the beginning of the occasion balanced out the meagre 5 from the three days previous it, and culminated in a high sale for the month of 9.93 ETH on its closing day. On a weekly foundation, Decentraland fared higher than most others, with scant 7-day quantity (51.48 ETH) to affect it, its market cap holding regular (+0.25%), no less than in ETH phrases.

Prime Gross sales by Metaverse (7D)

Metaverse Tokens (7D)

For complete market and Metaverse mission information, discover out extra on oneland.world and comply with for the most recent updates on Twitter.

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Monetary platform for digital lands within the metaverse.