Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Metaverse land prices plummet 72% from peak, CoinGecko reports
ADOPTION NEWS

Metaverse land prices plummet 72% from peak, CoinGecko reports

By Crypto FlexsAugust 4, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Metaverse land prices plummet 72% from peak, CoinGecko reports
Share
Facebook Twitter LinkedIn Pinterest Email

Iris Coleman
Aug 2, 2024 10:53

CoinGecko reports that the average price of Metaverse Land has plummeted 72% from its all-time high, reflecting broader market trends.





According to a recent report from CoinGecko, the average price of Metaverse Land has plummeted by 72% from its all-time high. The study highlights significant declines in major Metaverse projects, reflecting broader market trends in the cryptocurrency and NFT sectors.

Significant reductions across major projects

According to CoinGecko, the cost of Metaverse Land in 2024 will be between 0.08 ETH and 1.88 ETH (around $250 to $5,960). This represents a sharp decline from the peak price. The average floor price is down 34% from 2023 and 55% from 2022. The most notable decline can be seen in Sandbox projects, where the price has dropped from an average of 2.86 ETH in 2021 to 0.13 ETH in 2024, a whopping 95% drop.

Other projects have also seen significant declines. NFT Worlds, rebranded as TOPIA Worlds in 2023, has seen a less severe decline, falling 65% from peak to trough. The average floor price for NFT Worlds was 3.29 ETH in 2022, but fell 45% to 1.81 ETH in 2024. Meanwhile, Otherside and Decentraland’s Otherdeed have fallen 85% and 89% from their peaks, respectively.

Resilience of some projects

Despite the overall market downturn, some projects have shown resilience. TOPIA Worlds, supported by a strong staking mechanism and a successful rebrand, has mitigated the decline better than its competitors. Likewise, Somnium Space has shown an interesting trend, with its highest average floor price increasing from 0.57 ETH in 2022 to 0.98 ETH in 2023. The increase coincided with the launch of the Somnium VR1 headset and other major announcements.

Market Trends and Interests

The 2022 metaverse land price peak was driven by unprecedented interest in digital real estate and the broader Web3 ecosystem. Google Trends data shows that searches for “metaverse” increased 106% in 2022, peaking in January of that year. This surge in interest was reflected in the bullish crypto market, leading to record high prices for metaverse land.

Planet of the Apes: The Fall of the Apes

The report also highlights the case of Otherside, a virtual world developed by Yuga Labs. Launched in 2022, Otherdeeds allowed owners to claim land in Otherside, initially trading at an average of 3.00 ETH. However, by 2024, the Otherdeed price had fallen to 0.18 ETH, a 96% drop from its all-time high. With the launch of Otherdeed Expanded in 2023, which was intended to improve the gameplay experience, the price dropped from its all-time high of 1.09 ETH to 0.24 ETH.

Future outlook

The performance of digital lands in the metaverse has been highly volatile, influenced by broader trends in the crypto and NFT markets. 2022 was a record high, but the years since have seen significant corrections. Projects like TOPIA Worlds and Somnium Space have proven their relative resilience through strategic development and strong community engagement.

methodology

CoinGecko research analyzed the ETH price of selected metaverse lands from January 1, 2021, to June 25, 2024. Projects studied included Otherdeeds, Sandbox, Decentraland, Somnium Space, Voxels, Worldwide Webb, NFT Worlds, and TOPIA Worlds. Price data was provided by CoinGecko, and trends were provided by Google Trends.

For more details, visit the CoinGecko report.

Image source: Shutterstock


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

NVIDIA’s BLACKWELL Architecture MLPERF has set up new performance standards.

June 6, 2025

Bitfinex updates version 1.116 improved platforms

June 6, 2025

SEI Network opens up the way of autonomous AI economy.

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

NVIDIA’s BLACKWELL Architecture MLPERF has set up new performance standards.

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025

Bitfinex updates version 1.116 improved platforms

June 6, 2025

Encryption leverage: 2025 trend and change analysis

June 6, 2025

Why DEGO Price tank 60%after moving USD1 Stablecoin

June 6, 2025

SEI Network opens up the way of autonomous AI economy.

June 6, 2025

SEI hit 621K wallet and $ 930m tvL, but two regions should pay attention.

June 6, 2025

Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes

June 6, 2025

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

NVIDIA’s BLACKWELL Architecture MLPERF has set up new performance standards.

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025
Most Popular

Citi-backed Talos acquires cryptocurrency risk management platform Cloudwall

April 23, 2024

Expect chain reorganization depth | Ethereum Foundation Blog

May 1, 2024

Confirmation -Is there a validity of the transaction binary from the perspective of the light node?

April 7, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.