Land prices (LAND) on Metaverse dropped an average of 75% in the third quarter.

Q3 trading volumes for Metaverse’s top 10 projects may have declined compared to Q2, including land prices (LAND), but analytics firm Dappradar points out that interest in virtual reality persists.

The Metaverse sector has been affected by recent market conditions. Especially when user activity is low on some platforms like Decentraland and Meta.

DappRadar specifyIn the Oct. 20 report, volumes were hit hard in the third quarter, with the average number of NFT sales for 10 projects down 11.55% compared to Q2.

DappRadar explains that lower trading volumes may only reflect lower asset prices. And that doesn’t mean a lack of interest. Noting that:

“We take this as a good sign. Because it shows that the interest for this type of project is not declining. Conversely, the falling cryptocurrency price has affected the overall trading volume of the project rather than the interest.”

However, eight of Metaverse’s top 10 projects saw a significant drop in NFT sales during the third quarter, particularly Yuga Labs’ Otherside, down 74% in the quarter.

As of The Sandbox and NFT Worlds V2, the number of NFT sales increased by 190% and 79%.

Sandbox TweetAs of Oct. 10, it had 39,000 daily active users and 201,000 monthly active users over the past 30 days, while Decentraland reported 8,000 daily active users and active users. Monthly 56,697 cases as of 8 Oct.

Land (LAND) prices are falling.

According to DappRadar, land prices (LAND) fell by an average of 75%, possibly one of the reasons for the sharp drop in trading volumes.

“Real estate on Metaverse is depreciating drastically these days,” DappRadar said, adding that the price drop was in line with the bear market of the crypto sector.

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