What are NFTs?

NFTs are tokens that we can use to represent ownership of unique items. They let us tokenize things like art, collectibles, even real estate. Ownership of an asset is secured by the Ethereum blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence.

NFT stands for non-fungible token. Non-fungible is an economic term that you could use to describe things like your furniture, a song file, or your computer. These things are not interchangeable for other items because they have unique properties.

Findings

🥽 We can see that NFT buyers + sellers dropped so high, changes are not even visible.

🥽 Drops in the seller and buyer numbers, mostly affected the NFT Worlds.

Findings

🥽 Sandbox has the highest number of sales. with 80.6k NFTs sold.

🥽 NFT Worlds is in the second place with 20.9k NFTs sold.

🥽 Voxels is in the third place with 5443 NFTs sold.

🥽 Voxels beats the Decentraland for the first time, reason of this could be the price of NFTs while Decentraland NFTs are sold for a higher price which causes the less sale numbers, Voxels NFTs are sold for a lower price which causes to sale of more NFTs.

Findings

🥽 We can see the sharp rise of the sale numbers and volume, while now it seems like its going in sideways.

🥽 Decline on the ETH sales volume is worst than the sale numbers

This NFTs growed so fast but their fall happened so quickly as well.

Findings

🥽 Daily number of NFT sales has has dropped same as the volume.

🥽 Metaverse NFTs combined cant even pass 100 sales in a day in some days.

Decline become more clear with the number of sales.

Findings

Marketplace Metrics

Findings

🥽 Currently that Sandbox NFT sold for 30M$ is worth only 17 ETH ($21,830.55) ( Last Sale Price ) , with a drop of 99%.

🥽 That Decentraland NFT sold for 262k is currently worths only 5.3k ( Last Sale Price ), with a drop of 97,96%.

🥽 NFT Worlds NFT is not even sold since its bought ( Etherscan )

This shows us this NFTs are down so bad that, no one even buys them anymore.

What Is a Crypto Metaverse?

Crypto metaverses are immersive virtual worlds with immense social and financial potential. Their use of blockchain infrastructure enables them to tap into the wider crypto economy, making virtual items exchangeable for real economic value beyond the confines of the metaverse. By incorporating the immersive environments of virtual reality (VR), the engaging playability of video games, the networked interactivity of social media, and the value exchange of crypto, metaverses are aligned to become a central element in the next phase of blockchain games on the internet.

Fall Of Crypto Metaverse

We all heared the word metaverse in 2022 or 2021 but it lasted shortly, no one talks about the metaverse anymore.

What happened to the millions of dollars worth NFT estates, does they still worth millions or are they forgotten in their virtual world.

Ashes From The Old Metaverse : Total Metrics

Methodology

Metaverse Projects : Sandbox, NFT Worlds, Decentraland, Voxels ,Somnium Space VR.

Metrics:

• Total Metrics : Shows the combined values with combining five projects.

• Sales Volume ETH And USD:

  Volume generated from the sales of NFTs.

• Unique Buyers + Sellers : Removed from duplicates, shows all users who sold or bought an metaverse NFT.

• Max Sale Price USD: Shows the highest price of an NFT sold in that collection.

• Favourite Platforms: NFT Marketplaces that has data in ethereum.core.ez_nft_sales table.

🔎 What's in this dashboard?

In this dashboard we will be looking at the metaverse projects NFTs and try to find out if they are dead or still living.

We chose 5 metaverse projects

Sandbox, NFT Worlds, Decentraland, Voxels ,Somnium Space VR and we will be looking their sales metrics to find out if there is a decline on the number of sales or volume.

Do they still popular as they were.

Do metaverse still has a hype or its in decline.

Findings

🥽 Opensea is the favourite platform for Metaverse lovers, both sale numbers and volume is higher than the other platforms.

🥽 While on sale numbers Opensea crushes the other platforms, volume of Looksrare is higher compared to its sale numbers, especially for Sandbox.

Project Metrics

Findings

🥽 We can see that Sandbox has the highest sales volume with 473M$, gap between the its closest rival NFT Worlds is 310M$.

🥽 NFT worlds is in the second place with 163.3M$ sales volume.

🥽 Decentraland is in the third place with 43M$ volume.

🥽 Somnium has 22.7M$ volume is in the fourth place.

🥽 Voxels is in the last place with 557.6k$ volume.

Findings

🥽 Sandbox has the highest unique sellers + buyers.

🥽 NFT Worlds is in the second place.

🥽 Decentraland is in the third place.

🥽 NFT Worlds is the only project that has more sellers than buyers, this shows less people are buying the NFT Worlds NFTs while more people want to sell it, this will affect the price of NFTs in a negative way.

Daily Metrics, Acceptance Of The Decline

Findings

🥽 While on its glorious days NFT worlds and Sandbox was leading the metaverse, now their volume fell so much that, they cant even pass 10k$ volume in some days.

🥽 There was days where 11.65k$ ETH ( Feb 4 2022 ) volume was generated by Sandbox now its volume can reach 0.0465 ETH volume in Sep 21 ( 2022 ).

Also rise of the Metaverse NFTs started in the late of the 2021 in November and decline of them started after the February of the 2022, today looking at their old volume this NFTs are forgotten.

Conclusion

🥽 Death of the metaverse happened already, sales numbers dropped close to the zero, volume generated is some times cant even pass 10k$, new projects are not even talking about metaverse or the youtubers who shilled this projects stopped talking about it, its death already happened in chain and NFTs.

🥽 Number of traders are on the decline, some projects like Voxels are not even traded anymore.

🥽 NFTs that was sold for millions of dollars now worth only thousands and some times no one gives thousands as well because no one wants to buy them.

🥽 ==Metaverse of the NFTs crashed, there could be a hope for new projects but for now Metaverse on the blockchain is abandoned by traders and projects.==