Report reveals metaverse properties face 90% losses

A recent report indicates that popular metaverse properties, including those found in Otherdeeds, The Sandbox, Decentraland, Somnium, and Voxels, have suffered significant losses in value over the past year. Virtual lands in these top metaverses have seen a depreciation of around 90% from their peak prices in 2022. Otherdeeds, previously a high-priced property selling for 5 Ether, has experienced a 78.2% drop, while The Sandbox and Decentraland properties are down by 89.76% and 87.88%, respectively. The cheapest land is currently found in Voxels, which sells for 0.16 ETH, facing a 93.8% loss.

Despite the substantial decline, Voxels remains optimistic about a potential recovery, as expressed through their official Twitter account. In the ever-evolving metaverse space, tech giants like Apple are set to make their mark. Apple is preparing to launch a mixed-reality headset, which could ignite renewed global interest in the metaverse. Market analyst Josh Gilbert from eToro believes that Apple’s track record of delivering high-quality and market-shifting products could have a significant impact on the markets. According to a report from Apple insider Mark Gurhman, the highly anticipated Apple headset is expected to be released on June 5.

Source: Coinmarketcap

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