Metaverse Market Analysis: October 17-23, 2022

On Oct 24, 2022

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 stable for the week – up 3.52% to $1.283 billion
Decentraland and Arcade Land record top sales, as ETH price steadies
Agg. trading volume down 1.63%, holders steady

Market Data & Analysis

OneLand 7-day data shows aggregate land market cap for the 10 Metaverse projects up 3.52% to approximately $1.283 billion, while trading volume fell 1.63%. There were no big weekly movements in land caps of Metaverse projects in a week in which the price of ETH held relatively steady, up 4.4%.

The Sandbox’s land cap was steady for the week, up 1% to push past 190,000 ETH. Weekly average prices continue to look cheap at 1.42 ETH, having dipped below 2.0 ETH at the end of August and not rising above that since. Trading volumes (-28.5%) have also been retreating again since The Sandbox launched its landholder-only staking program a month ago. (In our upcoming October report, we will assess the performance of land sales over the duration of Alpha Season 3 (Aug 24-Nov 4) compared to AlphaS1 and S2 (which both ran 4 weeks)).

Meanwhile, Decentraland’s average price jumped 45% to more than double that at 3.18 ETH in a week which saw an Estate sell for 31.01 ETH. Decentraland’s second annual Metaverse Music Festival (MVMF22) was announced this week to happen Nov 10-13 and will be hoped to renew interest in the metaverse’s virtual real estate. Sales numbers (though down for the week 29%) and volumes (+3.2%) have been creeping upwards over the past couple months. Unique landholders are on the rise, as holding concentration loosens at Decentraland, while the opposite seems to be happening at The Sandbox.

Voxels’ holder numbers were down for the week, but like Decentraland are also up for both the month and year.

In its highest sale in nearly three months, a parcel in Arcade Land sold for 11.79 ETH. The sale composed 40% of its weekly trading volume (+27%) and helped Arcade Land to a second consecutive week of higher land cap, volume, sales and average price.

However, there were no premium sales of BYOLands this week, nor indeed any week over the past month. But trading activity had a definite pickup from last week’s lull, sales numbers recovering even if average price fell. BYOLands’ land cap ended the week down 6.4%.

Top Sales by Metaverse (7D)

Metaverse Tokens (7D)

For comprehensive market and Metaverse project data, find out more on oneland.world and follow for the latest updates on Twitter.

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