Welcome to Metaverse Market Analysis! Every Monday we bring you the latest stats and data on the overall state of the Metaverse market. This column is in partnership with the incredible team from OneLand, a financial platform for virtual lands in the Metaverse. This week brings the OneLand Metaverse Market Analysis stats for February 6 -12, 2023.

OneLand data shows total land caps (7D) for the 10 metaverse projects listed up 1.05% to 942,217 ETH.

Those of Otherside, The Sandbox and NFT Worlds all increased, while Decentraland fell 3.5% to dip below 250k ETH. In USD terms, however, land caps fell by 7%, reflecting a similar 7% 7-day loss for $ETH.

Context:

• $SAND rocketed 28% to $0.92 on Feb 7 as The Sandbox signed a MOU with the Saudi government to work together on the future Metaverse (see Market News). But the gains were sold in 48 hours, $SAND ending the week -4.9% to $0.70 (up 83% YTD).
• $SAND, $MANA (-10.8%) and $ETH (-7%) experienced a second week of corrections from January rallies.
• Trading activity at NFT Worlds continues to cool from January, recording 20% less volume and 30% less sales WoW, while native token $WRLD also corrected 29.5%. But perceived value still appears to be healthy (average price +13%), with an NFT World sold for 3.69 ETH its 2nd top sale in 5 months.

Highlight: Otherside

Monthly NFT sales hit $1bn in January for the first time since May last year. Yuga Labs’ NFT collections accounted for a full 34% ($324m) of it, as well as all Top 5 by volume – its blue-chip metaverse dream Otherdeeds ranked #4.

160 ETH for an Otherdeed on Feb 9 was the top sale since Sep 27 (though it came with a BAYC NFT!), pushing the 7-day Average Price up 33% to 4.1 ETH. YTD, both Average Price and Floor Price are up, 18.7% and 17.9% respectively.

It also lifted Otherdeeds’ land cap by 3.26% to 434,793 ETH (or $652.8m). Total land cap for Otherside is already up 13% YTD, and 20% since hitting an ATL of 362k ETH in November.

Otherdeeds’ WoW trade volume of 1486.68 ETH ($2.33m) (+16.2%) dwarfed 2nd-placed The Sandbox with 112 ETH by a factor of 13, as anticipation continues to build in the community for the coming Otherside.

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For explanations of our data calculations, check https://docs.oneland.world.

For comprehensive metaverse market and project data, check oneland.world.

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