by Data from The Block reveals that the metaverse market has taken a tumble this year. In the beginning of 2022, monthly trading volume across metaverse platforms peaked at $49.2 million. By November, however, this figure had plummeted to just $2 million, indicating a striking decline of 96%. The figures represent platforms like The Sandbox, Decentraland, NFT Worlds, Voxels, and Somnium Space.

The dashboard from The Block also highlights that land sales in the metaverse have plunged by 90% since the year's onset.

The Sandbox continues to boast the largest number of unique users, totaling 17,019, surpassing other metaverse environments. Decentraland follows with 6,529 unique users, while NFT Worlds had 4,403, Voxels attracted 2,431, and Somnium Space had 899.

The land prices in the metaverse have also experienced a steep decrease. Earlier this year, digital assets in NFT Worlds peaked at a staggering $44,070 on February 26. Today, a parcel of land in this metaverse is valued at approximately $782. At the start of the year, Somnium Space reported an average price of $25,860 for land; this figure has dropped to around $1,000 now.

Even centralized metaverse projects, like the one being developed by Meta, are not immune to downward trends. Meta's Reality Labs, responsible for their metaverse efforts, announced a staggering loss of $3.67 billion in the third quarter of 2022. The company has outlined its commitment to continue development throughout 2023. by Recent analyses suggest that while the metaverse faced challenges in securing a user-friendly market approach in 2022, there are indications of ongoing expansion into 2023. The anticipated full launch of The Sandbox could potentially steer the market toward a more positive trajectory. Alisa Davidson April 29, 2025 Know More It’s essential to highlight that the information on this page should not be taken as legal, tax, investment, or financial guidance. Always consider investing only what you can afford to lose and seek independent financial advice if you’re uncertain. For more clarity, we recommend reviewing the terms and conditions, alongside the help and support sections provided by advertisers or issuers. MetaversePost is dedicated to delivering precise and impartial news, but it's important to understand that market conditions can shift unexpectedly. Know More Agne is a journalist dedicated to reporting the latest trends and advancements in the realms of the metaverse, AI, and Web3 for the Metaverse Post. With a strong passion for storytelling, she has conducted a myriad of interviews with industry experts, tirelessly searching for captivating and inspiring narratives. Agne holds a Bachelor’s degree in literature and has a diverse writing portfolio encompassing a variety of subjects, including travel, art, and culture. Additionally, she has volunteered as an editor for an animal rights group, where she focused on raising awareness for issues surrounding animal welfare. You can reach her at Read More .

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