Virtual land prices in some of the most important metrics have fallen significantly from their peak prices in 2022, with most down about 90% in value.
a Stady A post by CoinGecko shows that popular metaverse properties such as Otherdeeds, The Sandbox, Decentraland, Somnium, and Voxels all depreciated during the period studied, from January 1, 2022, to May 24, 2023.
As shown above, the most expensive property at the time, Otherdeeds by Otherside, which sold properties for 5 Ether (ETH), is currently selling for 1.09 ETH, down by 78.2%. Sandbox and Decentraland properties also declined by 89.76% and 87.88%, respectively.
CoinGecko noted that the cheapest land in the metaverse can be found in Voxels, which are selling for 0.16 ETH as of May 24. Voxels virtual holdings suffered a 93.8% loss, as did Somnium. Despite the massive price drop, Voxels remains optimistic about a comeback. Her official Twitter account advertiser:
“We are number 5! We are number 5! (It hurts me too, but winter will come, the only thing to do is keep building). “
Technology giants and major economies continue to test the metaverse’s ultimate potential through various investments and initiatives.
Related: A Chinese city publishes a draft metaverse industry development policy
iPhone maker Apple will soon release a mixed reality headset, which could reignite global interest in the metaverse.
CT is completely oblivious to the fact that Apple is about to release a mixed reality headset in 3 weeks
Metaverse shitcoins will pump it so hard it’s not even funny
But you idiots kept buying influence coins
Yes
– Audi Wertheimer ♂️ (@udiWertheimer) May 15, 2023
Speaking to Cointelegraph, Josh Gilbert, market analyst at eToro, said the new headset could set the markets on fire, given Apple’s proven track record of delivering high-quality, market-changing products. Gilbert stated:
“When Apple does it, they usually do it right.”
According to a report by Apple product priest Mark Gurhman, Apple’s new headphone is set to launch on June 5.
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