Virtual land prices on popular metaverses such as Otherdeeds, The Sandbox, Decentraland, Somnium, and Voxels have depreciated significantly by approximately 90% in value since their peak prices in 2022. In a study published by CoinGecko, the most expensive property at the time, Otherdeeds by Otherside, which previously sold properties for 5 Ether (ETH), is presently selling at 1.09 ETH, down by 78.2%. The Sandbox and Decentraland properties also saw a decline of 89.76% and 87.88%, respectively. The report shows that the cheapest land in the metaverse could be found in Voxels, selling for 0.16 ETH as of May 24, even though its virtual properties have faced a 93.8% loss. Nonetheless, Voxels remains optimistic about a possible comeback. Its official Twitter account stated, “We’re number 5! We’re number 5! (It hurts me too, but winters gonna winter, only thing to do is to keep building).”
Tech giants and significant economies continue to experiment with the ultimate potential of metaverse through various investments and initiatives. Apple is soon to release a mixed-reality headset that could reignite global interest in the metaverse. eToro market analyst Josh Gilbert indicated that this new headset could set markets ablaze, given Apple’s record of delivering high-quality and market-shifting products. According to a report from Apple product soothsayer Mark Gurhman, the new Apple headset is set to launch on June 5.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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