Ñ lolMost virtual lands on some of the leading metaverses have depreciated by approximately 90% since their peak in 2022.
According to a study published by CoinGecko, the value of popular metaverse assets such as Otherdeeds, The Sandbox, Decentraland, Somnium, and Voxels declined between January 1, 2022, and May 24, 2023.
As demonstrated in the table above, the most expensive property at the time, Otherdeeds by Otherside, which once sold properties for 5 Ether, is now available for 1.09 Ether, a decrease of 78.2%.
Also declining by 89.76% and 87.88%, respectively, are the Sandbox and Decentraland properties.
The cheapest land in the metaverse, according to CoinGecko, is Voxels, which sells for 0.16 ETH as of May 24.
Voxels’ virtual properties faced a 93.8% loss, as did Somnium. Voxels remain optimistic about a comeback despite the steep price drop.
Tech titans and significant economies continue to test the ultimate potential of the metaverse through various investments and initiatives, according to its official Twitter account:
“We’re number 5! We’re number 5! (It hurts me too, but winters gonna winter, only thing to do is to keep building).”
Apple will soon release a mixed-reality headset, which has the potential to reignite global interest in the metaverse.
Given Apple’s record of producing high-quality, market-altering products, eToro market analyst Josh Gilbert stated:
“When Apple does it, they usually do it right.”
Adding that the new headset could ignite the markets.
According to a report by Apple product soothsayer Mark Gurhman, the new Apple headset is scheduled to debut on June 5.
