When Facebook wanted to start an image change a year ago by renaming it Meta, the idea of the Metaverse caused a lot of excitement. There was talk of dream factories, virtual worlds should be created – tempting prospects in a time of lockdown. But what has been achieved so far is meager. Decentraland’s user numbers also show that there is a gaping void in the blockchain metaverse.
Almost nothing happens in Decentraland
“Test the limits of your imagination” – the slogan is true, but probably not what the developers of Decentraland intended. How much money investors have put into their hands for a virtual piece of land in Decentraland is perhaps unimaginable. Paid about $913,000 for a virtual plot the size of ten football fields.
When it comes to user numbers, however, the limits of the imagination remain untouched. Only 23 users are currently romping around in Decentraland, according to Dappradar it should have been 516 in the past 30 days: an average of 17 per day.
Even if only those users are counted who also trade with the smart contract – for example exchange items – and dapp.com still has 280 users per day: the numbers are well below expectations. And also below market value.
The market cap of the Decentraland cryptocurrency MANA weighs in at $1.2 billion – only The Sandbox of the Metaverse projects is slightly larger at the moment. However, the market cap was not inflated by the 23 active avatars. In particular, media-effective investments by companies seeking to gain a digital foothold in the 3D virtual world increased the interest of small investors in the cryptocurrency.
Samsung has already opened a branch, JPMorgan a lounge, Barbados an embassy and Times Square has already landed in Decentraland: from the outside it seemed as if the blockchain metaverse would become one of the virtual hubs where culture, consumption and social merge.
In any case, Decentraland has so far not been able to meet these expectations – and therefore also those of investors. Not to mention those of gamers.
Do you want to buy cryptocurrencies?
Trade over 240 cryptocurrencies such as Bitcoin and Ethereum on Phemex, the platform for beginners and experienced investors alike.
To the provider
The latest issues of BTC-ECHO Magazine
You may also be interested in this