April 18, 2024

The fading interest in the overall Metaverse concept has seen blockchain projects designed solely for this phenomenon struggling with reduced user count within the last few months.

For instance, Dune analytics stated that Decentraland is the first-of-a-kind digital world allowing users to purchase wearables and land plots as non-fungible tokens (NFTs).

Users utilize the platform’s native token, MANA, o transact. Due Analytics added that the Metaverse project has seen sales decline within the past five months.

MANA: Did It Stop Falling

Decentraland has recorded a significant plunge in weekly sales within the last five months. Overall sales recorded in the digital world over the previous week hovered at $7,613 as of August 22. That translated to a 936% slump from $78,597 in the prior week.

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The platform’s unique sellers within the previous month wavered at 53. Meanwhile, Decentraland’s daily seller count has plunged continuously since July 26. Furthermore, distinct buyers within the last month stood at 81. This metric has slumped since July 26.

Meanwhile, the project allows inhabitants to purchase avatar wearables, LAND, and names within the Decentraland space as NFTs. NFTGo data shows these non-fungible tokens (NFT) collections have slumped notably over the past six months.

Decentraland’s LAND NFTs had their floor price at 0.39 ETH at this publication. The collection has seen its floor price plummet by 91% since March, deteriorating the 4.6 ETH high.

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This timeframe has the NFTs sales volume losing 77%. Meanwhile, the market cap stood at $162.47 million by August 23. That represented a more than 85% drop within the last five months.

Decentraland’s wearables had their floor price flat for the last 175 days, noting only a 1% uptick in the entire phase. While publishing this post, users could collect a wearable on Decentraland from as low as $12 (0.01 ETH).

Meanwhile, Decentraland’s wearables noted a 69% decline in sales volume over the previous five months, with the figure at $170,437. Also, its market cap declined by 29.15%, to $2.37M as of August 23.

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Decentraland Names had floor price declining by approximately 55% since March. Also, sales volume recorded an 80% drop in that timeframe. That period saw the market cap losing 70% to $2.76 million during this publication. Meanwhile, MANA hovered around $0.8285 at this writing, losing 22% in August.

Editorial credit: Ira Lichi / shutterstock.com

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