In 2022 there were lots of metaverse news. Decentraland ended the year 2022 with 2.7 million unique NFTs on their metaverse-based gaming platform. This marked a year-on-year (YoY) rise in NFT minting of 440 percent.
In addition, the number of unique active users on Decentraland increased by more than 12.9% over the course of a year, reaching one million by the end of 2022.
Decentraland Wearables, Decentraland LAND, and Decentraland comprise the Decentraland NFT ecosystem. According to the estimate, in 2022, 143,900 Decentraland Wearables NFTs would be sold. The sales volume increased by 510 percent year-over-year.
Decentraland’s value fell drastically.
Despite a rise in NFT mints and trading volume, an assessment of the three NFT collections that comprise Decentraland in 2022 revealed a considerable decrease in value.
This value decline reflected the general tone of the market regarding this asset class, as numerous speculative projects were abandoned to avoid the financial issues that had been developing during the year. The value of several NFT projects took a significant hit in 2022, making the year difficult.
For reference, blue chip NFTs experienced a decline in value in 2022 as the Blue Chip Index plunged 45%.
NFTGo data revealed that while the Wearables collection’s sales volume increased in 2022, its lowest price decreased dramatically. One NFT from the collection traded for less than 0.01 ETH per unit in 2022. The highest price for ETH in 2022 was 0.0099 ETH on February 22.
Decentraland Wearables experienced a 56% decline in value, ending the year at 0.004 ETH.
Similarly, the same fate befell its LAND NFT collection. At a minimum price of 1.2 ETH at the time of publication, the collection’s value has decreased by 73% in 2022.
In addition, as of December 31st, the minimum price for Decentraland Names was 0.01 ETH, according to statistics from NFTGo. However, this collection was sold for 0.09 ETH more in February.
The Metaverse-based project’s native token performed no better. According to data from Coinmarketcap, MANA’s price fell by 91% in 2022, trading at $0.2939 at press time.
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