Welcome to Metaverse Market Analysis! This column is in partnership with the incredible team from OneLand, a financial platform for virtual lands in the metaverse. Metaverse Market Analysis September 2022
- The Otherside sales relish massive rebound, volume up 90% and a slew of top sales.
- DCL relishes a third consecutive week of land market cap recuperation.
- Somnium Space’s Mixed Authenticity Fashion Week 2022 and VR presidential candidate press conference additionally fail to rally sales.
Market Data & Analysis
7-day data shows aggregate land caps for the (now) 8 metaverse projects on OneLand up by 5.26% to just under $1.67 billion, with trading volumes rebounding 60.77%. It represents the first increase in OneLand aggregate land caps for 15 weeks, with the turnaround in sales volume and prices resulting virtually solely from renewed interest in Otherside, presumably engendered by their incipient trailer video and all the ensuing verbalize and conjecture following it. A second consecutive week of trading and price action recuperation for Decentraland withal did no harm.
The Sandbox in particular did not have a prosperous second week of its Alpha Season 3 in terms of LAND sales, with major weekly metrics all in the red. Somnium Space did not fare well either, albeit in what was another exhilarating week in terms of VR firsts. NFT Worlds perpetuates to slide, while Ecumenical Webb came back to earth following a more hopeful anterior week of sales activity. Metaverse Market Analysis September 2022
ETH was up for the week by 10.61% as anticipation heats up ahead of the coming week’s Merge.
A top sale of just 2.14 ETH and lower sales numbers sent the land cap crashing another 6.15% to now just 176,057 ETH, which is where it was back on 27 Nov.
Perhaps a rallying $ETH price (+10.61%) caused some reluctance to buy, though the price of native token $SAND was steady across the week.
With Decentraland relishing a recuperation in volumes and land cap over the last a fortnight, The Sandbox has slipped back into a clear third spot behind Decentraland in terms. Metaverse Market Analysis September 2022
Decentraland relished a third consecutive week of market cap recuperation, up by 4.76% on the back of. An Estate selling for 25 ETH, even though sales were down 24%. It withal brought the average price of a parcel back up 43% to 3.4 ETH.
Somnium Space might have had a good week on the tech front. As it held the world’s first mixed-authenticity fashion week. As well as the first ever presidential candidate press conference conducted in virtual authenticity. Yet it elicited no impact at all on the landonomics, with a paltry 4 parcels sold and a top sale of just 3.0 ETH, sinking its average price 90% week-on-week to just 1.14 ETH. Metaverse Market Analysis September 2022
The Otherside witnessed a massive week-on-week comeback with all 7-day metrics in the green. Coming on the back of last week’s incipient epic trailer release and further news that Otherdeeds became the 6th highest selling NFT of all time (expounded in more detail in our August report, published last week). Otherside ended the week with Otherdeeds’ land cap back up 11.52%. To fall just short of 500,000 ETH, where it sat one month ago.
Thursday visually perceived the trade volume of Otherdeeds skyrocket 355% compared. To its anterior 24 hours to hit 1424.74 ETH (502% higher than the average daily volume in August). To put this in context, the last time an Otherdeed sold for 100 ETH was back on June 30. When the price of ETH was $1,094, 38% lower than where it was on Sep 8.