It’s the question every metaverse watcher is asking.
Is one of the largest, most valuable metaverse ventures thus far effectively a ghost town whose days are numbered?
The story began to swirl when the Solana chain Cyber Samurai NFT project founder, who recently pointed out that Decentraland only has 30 daily users with figures coming from DappRadar.
Privately, I do no believe in Dappradar at all, it is totally not reliable data collector and analyzer. I strongly doubt that It may be in the influence of Binance or Chinese service provider.
Anyway It’s a figure that caught many by surprise and one which has shone a bright light of doubt upon Decentraland’s valuation of $1.2 billion.
The discrepancy has led to some questioning the validity of the report.
Additionally, a second source indicates that the metaverse platform does in fact have several hundred daily active user.
However, both figures are still extremely low when the platform’s supposed worth is taken into consideration.
Decentraland is a decentralized metaverse that is home to various VR experiences from a host of big name brands
Heineken released the first virtual beer, Heineken Silver in Decentraland in March.
Famed bank, J.P. Morgan has set up a presence on the platform as well and beyond branded content, Decentraland is also the first metaverse to welcome a virtual hotel.
The platform is Ethereum-based and allows its users to create and monetize content and utilizes MANA and LAND tokens.
MANA is necessary to acquire LAND and must be purchased from either OpenSea or the Decentraland MarketPlace.
LAND is then used to purchase virtual goods within the platform. Unfortunately, in-game tokens are declining in value due to the low level of daily active users in the metaverse. And yes, this includes Decentraland’s MANA token.
How to ge the number of active users
DappRadar measures the number of users that are interacting with the Decentraland smart contracts.
This means the number of daily active users is likely being under-reported as users may be active without completing smart contract tasks.
According to this data, Decentraland averages 600 users daily. While much larger than the 30 daily active users estimate its still a paltry sum of users for a metaverse.
Is a Metaverse dead?
It is so early to say that as we just met the new wave of a Metaverse from lasy year with Blochain and crypto price increase.
Mixed with crypto and so much price expectation, the real value and usage haven't been settup clearly.
The valuation and the relevant NFTs still on the parking lots that still try to find the real direction.
The game changer or new ignition will come from hardware revolution by Meta, Apple, Google or Samsung. But still so much uncertainty we have.
It is required to make it more valuable to focus on narrow spot such as a very exciting game story and UI, educational performance or any specialized industry usage.
Source: beyondgames