Top Metaverse Real Estate Investments Suffer Huge Losses: Report

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    The price of virtual land in some of the top metaverses has fallen significantly from its peak price in 2022, with most virtual land values ​​falling by about 90%.

    a study According to research published by CoinGecko, popular metaverse properties such as Otherdeeds, The Sandbox, Decentraland, Somnium, and Voxels all decreased in value during the research period from January 1, 2022 to May 24, 2023. Did.

    Metaverse land price comparison. Source: CoinGecko

    As shown above, the most expensive real estate at the time, Otherdeeds by Otherside, used to sell properties for 5 Ethers (ETH), but is now selling for 1.09 ETH, a drop of 78.2% . Sandbox and Decentraland real estate also fell by 89.76% and 87.88%, respectively.

    CoinGecko noted that the cheapest land in the Metaverse is found in Voxels, selling for 0.16 ETH as of May 24th. Voxels’ virtual assets, like Somnium, faced a loss of 93.8%. Despite the significant drop in prices, Voxels remains optimistic about its comeback.Official Twitter account said:

    “We’re in fifth place! We’re in fifth place! (It hurts me too, but winter is winter, the only thing is to keep building).

    Tech giants and major economies continue to test the ultimate potential of the Metaverse through a variety of investments and initiatives.

    Related: Chinese cities release draft policies for metaverse industry development

    iPhone maker Apple will soon launch a mixed reality headset, which could reignite global interest in the Metaverse.

    Josh Gilbert, a market analyst at eToro, said in an interview with Cointelegraph that the new headset could ignite the market given Apple’s track record of delivering high-quality, market-changing products. Ta. Gilbert said:

    “When Apple does it, they usually do it right.”

    According to a report from Apple product fortune teller Mark Gurhman, the new Apple headset will be released on June 5th.

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