• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Breaking: Arbitrum Announces The Launch Of Its New Token ARB, Transitioning To DAO
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Arbitrum Announces The Launch Of Its New Token ARB, Transitioning To DAO
metaverse
Advertisement

Metaverse Land Value Is Dropping – Should You Buy Now?

Christian Encila by Christian Encila
11 months ago
in metaverse, NFT
0
Advertisement

The prices of real estate in the metaverse has dropped to 15%. So, is this the best time to go for a buying spree?

Metaverse is the buzzword of the future. As more people are clamoring for that immersive experience, they aim to build more into the virtual domain.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Apart from Otherside, the most popular metaverse to date, all other metaverse plots are sinking in value such as the following: Axie Infinity (AXS), The Sandbox (SAND), and Decentraland (MANA).

Similarly, crypto value is also going down. For instance, ETH is currently trading at $2,300 which is a far cry from its all-time high market value of $4,800 in November of last year.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Big enterprises purchase virtual lands in order to expand their product offerings across the metaverse. (Gfinity Esports)

Suggested Reading | Madonna Gives Birth To Flora And Fauna In 1st Beeple NFT Project (That’s NSFW)

Meta Project Losses Affect Virtual Land Prices

Mark Zuckerberg introduced the metaverse transition when Facebook’s name was changed to Meta.

This move by the Meta CEO has stirred excitement in the metaverse triggering the increase in prices of coins. Projects like CEEK, The Sandbox, Bloktopia (BLOK), Enjin (ENJ), and Pavia has climbed in value during this time.

However, when the news of Meta project loss amounting to $3 billion circulated over mainstream and social media, the virtual land prices also suffered a major dip.

NFT projects also increased immensely during Q1 of 2022. In fact, many Ethereum NFT collections have flourished during this period.

On the flipside, most Solana-based NFTs have lost its value. The current downward trend of Metaverse land prices can be pegged on the market decline. However, even before these successive declines, more metaverse projects have already plummeted.

Crypto total market cap at $1.44 trillion on the daily chart | Source: TradingView.com

NFT Projects Plunge in Value

For instance, Axie Infinitly, a widely successful project with the highest transaction volume on the first quarter of 2021, had a massive holdup in transaction as players flee following a massive cyber attack on the platform.

Even though the Axie development team announced that they are willing to pay $650 million worth of damage, the Axie players are still leaving the platform.

In addition, Bitcoin has also suffered a major dip to the $30,000 band. Bitcoin’s slump has now led to incremental losses in NFT-based projects. More so, major altcoins including AXS, SAND, and MANA have lost around 40% over the past month.

It's becoming increasingly important to expand the virtual realm to meet the increasing demand for an immersive experience. (GOBankingRates)

Otherside actually went from 2 ETH to a major jump of 7 ETH before it went into a slippery downward slope at 4 ETH.

The Sandox land prices also plummeted to 11%. Right now, you can purchase SAND plots that on sale at NFT markets like LooksRare and OpenSea for only 1.19 ETH.

More so, Decentraland plots are also on sale at the same NFT outlets for as low as $5000 or 3,800 MANA.

Is it Time To Buy A Land In The Metaverse?

So is now the time to buy and hoard metaverse lots? Many investors say yes.

Large companies are buying these virtual lands because it gives them the opportunity to sell their products in the metaverse.

The current fall in land prices is just a dip, and the prices are expected to recover in no time.

Suggested Reading | LUNA Sinks As Binance Suspends Withdrawals Of Tokens Amid Market Turmoil

Featured image from Economic Times, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Christian Encila

Christian Encila

Related Posts

Bitcoin Ordinal NFTs Minted Surpasses 500,000 Mark, What’s Next?

Bitcoin Ordinal NFTs Minted Surpasses 500,000 Mark – What’s Next?

2 days ago
DappRadar Report Shows Decline in NFT Trading Following SVB Crash

DappRadar Report Shows Decline in NFT Trading Following SVB Crash

4 days ago
salesforce

Salesforce Teams Up With Polygon For New NFT Management Platform

5 days ago
formfunction

Solana NFT Marketplace Formfunction Will Shutdown – Here’s When

5 days ago
Meta

Why Meta Is Calling It Quits On Support For NFTs In Both Facebook, Instagram

1 week ago
Nissan Ventures Into Web3 With Trademark Filings And Metaverse Sales Testing

Nissan Ventures Into Web3 With Trademark Filings And Metaverse Sales Testing

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Becoming Borderless Pioneers. Bware Labs Roadmap and...

    53 mins ago
  • Learn why TMS Network (TMSN) is growing exponentially, in...

    3 hours ago
  • TMS Network (TMSN) surging 1100%, While TRON (TRX) and...

    3 hours ago
  • Could TMS Network’s (TMSN) trading platform help...

    4 hours ago
  • Terra Classic Price Prediction Provided By Avorak AI...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.