Metaverse or Metadesert? Misinformation about the metaverse

Attack or defense? – Economic players are increasingly curious for metaverses and their interest is increasing day by day. The bear market doesn’t seem to discourage them, but some Cassandras believe the metaverse is already deserted. Leaked data suggests that the bubble has already burst, but the architects of this environment are defending themselves against what they believe is metaverse misinformation.

DappRadar at the origin of misinformation

data published by DappRadar estimate that the number of daily users of the metaverse would be anecdotic. Indeed, company watchers believe there is only one 30 daily users in Decentraland. A number that seems small when compared to the company’s market capitalization 1.2 billion dollars. Problem: this data consists of metaverse users who have made an in-game purchase.

Platforms therefore reacted to this report by suggesting very low daily activity. They claimed that a mass “misinformed” was used to calculate the number of daily users. The answer to this misinformation about the metaverse is therefore: no, NFTs and metaverses are not dead!

CEO of The sandbox (Sand), Arthur Madrid he wanted to remember her transactions performed do not represent the number of users. He also mentioned the utility of an NFT, the owners of the NFT “invest in a token that will increase in value over time and according to utilities”.

Tweet from Arthur Madrid – Source: I tweet

How much for Decentraland (MANA), they replied that better statistics can be found at DCL metrics, a custom-built data aggregator for Decentraland. Unlike DappRadar’s data, it measures the number of daily users through the number of inputs followed by an output in a plot.

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The Metaverse is doing well but going through a delicate period

The differences are important because 1074 people interacted with smart contracts in September in Décentraland. However, they really are 56,700 people which joined the platform in September. So we have 1.89% users who make purchases.

Decentraland also wants to correct the wrong information provided by DappRadar
Tweet from Decentraland – Source: I tweet

Similarly, The Sandbox has dismissed criticism of its daily user count. The platform declares that it matters 201,000 monthly users. It is therefore necessary to use blockchain data with hindsight and not make hasty interpretations to avoid misinformation on the metaverse.

Attending the metaverse worries at a time when the market is confused

A thread on Reddit shows that attendance of these metaverses is the biggest source of concern for investors. It was in this thread that a user mocked Decentraland by calling it a “Wasteland”. As you will have gathered, the transatlantic metaverse is described there as ghost town. This controversy dates back to when the bear market was testing the most legitimate metaverse projects. How can we explain it? Alexander Stachchenko, the market is in the consolidation phase.

Indeed the market saw the price of the tokens of these metaverses to sit drastically. Decentraland sign, MANNAfell from $5.85 (ATH) to $0.66, down from 88.7%. On his side, SAND is at $0.79 when its ATH was $8.40, down from 90.5%. The market caps of The Sandbox and Decentraland are currently respectively 2.37 billion dollars and 1.44 billions of dollars.

Therefore, DappRadar published information that was not wrong, but misrepresented it leading to misinformation about the metaverse. This prompted Decentraland and The Sandbox to correct themselves by posting and detailing their form on social media. So it seems that the metaverse is not dead and many users still surf these platforms every day. However, it should be noted that the numbers have dropped, which indicates that the metaverse is going through a delicate period. To learn more about what’s new about salt and pepper in this environment, read our report from last month.

The drop in prices also affects the metaverse. Take advantage of current market conditions to quietly accumulate Bitcoins. And to keep your crypto purchases safe, equip yourself with a Ledger key. Your purchasing power is preserved because shipping costs are a gift (commercial connection).

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