Attack or defense? – Economic actors are increasingly curious on the metaverse and their interest grows day by day. The bear market doesn’t seem to discourage them, but some cassandres believe the metaverse is already deserted. The leaked data suggests that the bubble has already burst, but the architects of this environment are defending themselves from what they believe is misinformation of the metaverse.
DappRadar at the origin of disinformation
data published by DappRadar estimates the number of daily users of the metaverse would be anecdotal. Indeed, observers of the company believe that there is alone 30 daily users on Decentraland. A number that seems small compared to the company’s market capitalization $ 1.2 billion. The problem: This data is made up of metaverse users who have made an in-game purchase.
The platforms then reacted to this report by suggesting very low daily activity. They claimed that a measure “uninformed” was used to calculate the number of daily users. The answer to this misinformation about the metaverse is therefore: no, NFTs and the metaverse are not dead!
The CEO of The sandbox (SAND), Arturo Madrid he wanted to remember it transactions made do not represent the number of users. He also mentioned the usefulness of an NFT, the owners of NFTs “investing in a token that will increase in value over time and based on utilities”.
As for Decentral (MANA), they replied that better stats could be found on DCL metrics, a custom data aggregator for Decentraland. Unlike DappRadar data, it measures the number of daily users via the number of accesses followed by a logout on a plot.
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The metaverse is doing well but is going through a delicate period
The distinctions are important because 1,074 people interacted with smart contracts in September at Décentraland. However, they really are 56,700 people which connected to the platform in September. So we have 1.89% users who make purchases.
Likewise The Sandbox has refuted criticisms of its daily user count. The platform claims it matters 201,000 monthly users. It is therefore necessary to use the data of the blockchain with hindsight and not to make hasty interpretations to avoid misinformation on the metaverse.
Attending the metaverse is worrying at a time when the market is tangled
A thread on Reddit shows that the presence of these metaverses is the biggest concern for investors. It was in this thread that a user mocked Decentraland by calling it a “Desert Land”. As you may have understood, the transatlantic metaverse is described here as ghost city. This controversy dates back to when the bear market is testing the more legitimate metaverse designs. How to explain it Alexander Stachchenko, the market is consolidating.
Indeed, the market has seen the price of the tokens of these metaverses to reduce drastically. The Decentraland token, the MANAfell from $ 5.85 (ATH) to $ 0.66, down by 88.7%. On his part the SAND is at $ 0.79 when his ATH was $ 8.40, a decline of 90.5%. The market caps of The Sandbox and Decentraland are currently respectively 2.37 billion dollars and 1.44 billions of dollars.
DappRadar therefore published information that was not incorrect but misinterpreted it leading to misinformation on the metaverse. This prompted Decentraland and The Sandbox to make amends by posting and detailing their form on social media. So it seems that the metaverse is not dead and many users are still browsing these platforms every day. However, it should be noted that the figures have plummeted, which reveals that the metaverses are going through a sensitive period. To find out more about the new salt and pepper products in this environment, read our report from last month.
The drop in prices has an impact on metaverses as well. Take advantage of current market conditions to safely accumulate Bitcoin. And to keep your cryptocurrency purchases safe, equip yourself with a Ledger key. Your purchasing power is preserved because the shipping costs are a gift (commercial link).