Prices of land plots within the metaverse fell by 18% final month from an all-time excessive seen the month earlier than, based on an index masking 30 of the highest digital worlds. Nevertheless, digital land nonetheless outperformed the value of Ethereum’s native token ETH when seen over the previous 12 months as a complete.
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Based on data from the metaverse analytics supplier Meta Metriks, the typical worth of a digital land plot fell to USD 8,594 in March, down 18% from an all-time excessive of USD 10,473 recorded in February.
The latest fall in worth is consistent with a broad decline within the costs of metaverse-related tokens over the previous 6 months.
As of Wednesday, main metaverse tokens similar to these issued by Decentraland (MANA), The Sandbox (SAND), and Axie Infinity (AXS) have been all down by between 55% and 65% since reaching their all-time highs in November final 12 months.
Still, the typical worth for March stays about 4 occasions greater than the value seen a 12 months earlier, Meta Metriks’ knowledge mentioned.
Among the many worst-performing digital worlds when it comes to land costs in March have been Decentraland, The Sandbox, and the non-fungible token (NFT) recreation Fluf World (FLUF), which noticed land costs drop by 49%, 23%, and 44%, respectively.
The losses seen within the three digital worlds have been solely partially offset by positive factors seen in Metroverse (MET) and NFT Worlds (WRLD), the place land costs rose by 27% and 6%, respectively, for the month.
Regardless of the droop in land costs in US greenback phrases over the previous month, proudly owning land within the metaverse nonetheless turned out to be a greater funding than holding ETH for the 12 months as a complete.
As of the top of March, metaverse land has carried out 2.6 occasions higher than ETH for the previous 12 months, regardless of the dip in land costs and progress in ETH costs seen final month, Meta Metriks mentioned.
On Wednesday at 10:17 UTC, ETH stood at USD 3,336, down 5.2% over the previous 24 hours and a couple of% in every week, and up practically 31% for the previous 30 days.
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