Metaverse Market Analysis: October 24-30, 2022

MARKET_WATCH Overview

Welcome to Metaverse Market Analysis! Every Monday we bring you the latest stats and data on the overall state of the Metaverse market. This column is in partnership with the incredible team from OneLand, a financial platform for virtual lands in the Metaverse.

 

Highlights:

 

  • Metaverse land caps rise 14% to $1.46 billion on back of crypto rally, ETH +16%
  •  
  • Otherside land cap dips 6% – premium sales vanish from the charts
  •  
  • Trading remains quiet at NFT Worlds, as prices start to correct in anticipation of an end-of-year Beta release
  •  
  • Trading activity up at Worldwide Webb, as it opens its early access Alpha to all players


 

It may even be that ETH’s rally sparked some FOMO-ing traders in OG projects Decentraland and The Sandbox into action – weekly trading volumes were up by 57% and 33% respectively – but also Worldwide Webb (+25%) and BYOPills (+63%). 

 

Currently, Decentraland is gearing up for its second annual Metaverse Music Festival, taking place 10-13 Nov (in which OneLand will be participating) while The Sandbox concludes its 10-week long Alpha Season 3 (don’t forget to check our upcoming October monthly report for a performance comparison with AlphaS1 and 2).

 

Over at NFT Worlds, where the dev team power forward with their new game, its pricing has corrected a little over recent weeks to return near 1 ETH, after hitting as low as 0.73 on Sep 10. That is still a far cry from the 3.72 ETH ($5,840) prior to July 20 when Microsoft banned NFTs from Minecraft and forced NFT Worlds’ pivot, while trading volumes remain low, down 23% for the week as the community waits and watches while in a bear market. However, with a Beta on its way, a blockchain gaming integration, upcoming Game Jam and a little more marketing at play, it will be interesting to witness the coming months.

 

Trading and price action at Worldwide Webb has been lacklustre, but October has been a better month than September for the NFT integration superstar. Trading volume and sales numbers improved 24.8% and 50% for the week, as the project released news that come the end of the week (Halloween), its Alpha would open for all players! 

 

Source : nftplazas.com/metaverse-market-analysis-october-24-30-2022/ by Ivelina - October 31, 2022

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