Decentraland closes 2022 on a sour note despite 440% growth in volume

1 year ago 110
  • Decentraland saw a YoY maturation successful its NFT mints and purchases.
  • The worth of its 3 NFT projects, however, plummeted

As elaborate successful its end-of-the-year show report, starring metaverse-based level Decentraland saw a maturation successful the NFTs minted and purchased successful 2022.

Read Decentraland’s [MANA] Price Prediction 2022-2023

According to the blog post, Decentraland closed 2022 with 2.7 cardinal unsocial NFTs minted connected the metaverse-based gaming platform. This represented a 440% maturation successful the measurement of NFT mints connected a year-over-year (YoY) basis.

Furthermore, the number of unsocial progressive users connected Decentraland grew by implicit 12.9% wrong the 12-month period, closing 2022 with 1 cardinal unsocial progressive users.

The Decentraland NFT ecosystem consists of Decentraland Wearables, Decentraland LAND, and Decentraland Names. According to the report, 143,900 Decentraland Wearables NFTs were sold successful 2022. This was a 510% maturation successful income measurement connected a YoY basis. 

Decentraland saw a terrible diminution successful value 

Despite the maturation successful NFT mints and trading volume, an appraisal of the 3 NFT collections that marque up Decentraland revealed a important driblet successful worth successful 2022. 

This diminution successful worth mirrored the wide marketplace sentiment toward that plus people arsenic galore abandoned speculative projects to flight the fiscal hardships that lingered passim the year. 2022 was challenging, arsenic respective NFT projects suffered immense blows to their value.

For context, bluish spot NFTs suffered a driblet successful worth arsenic the Blue Chip Index fell by 45% successful 2022. According to NFTGo, the Blue Chip Index is calculated by weighing the marketplace headdress (ETH/USD) of bluish spot collections to bespeak their performance.

Source: NFTGo

A 539.12x hike connected the cards IF MANA reaches Bitcoin’s marketplace cap?

While Decentraland’s Wearables postulation saw a rally successful income volume, its level terms declined importantly successful 2022, information from NFTGo revealed. Throughout 2022, an NFT from the postulation traded for little than 0.01 ETH. Its highest terms successful 2022 was 0.0099 ETH connected 22 February.

Closing the twelvemonth astatine a level terms of 0.004 ETH, Decentraland Wearables suffered a 56% driblet successful value.

Source: NFTGo

Likewise, its LAND NFT postulation suffered the aforesaid fate. At a level terms of 1.2 ETH astatine property time, the collection’s worth declined by 73% successful 2022.

Source: NFTGo

Further, Decentraland Names had a level terms of 0.01 ETH arsenic of 31 December, information from NFTGo revealed. However, this postulation sold for arsenic precocious arsenic 0.09 ETH successful February.

Source: NFTGo

The autochthonal token that powered the metaverse-based task did not fare immoderate better. Trading astatine $0.2939 astatine property time, MANA’s terms fell by 91% successful 2022, information from CoinMarketCap revealed.

Abiodun is simply a full-time writer moving with AMBCrypto. He is besides a lawyer with implicit 2 years of experience. With a keen involvement successful blockchain exertion and its limitless possibilities, Abiodun spends his clip knowing the technology, gathering projects, and educating radical astir it.

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