NFT and the metaverse projects have to wait in the background after FTX’s bankruptcy. Blockchain games, in particular, lost a large part of their players due to low earnings. Appetite for the metaverse coin market is rising again due to the prices at the bottom.
Best metaverse coin picks for 2023 radar
Bear markets are a big discount season for those who manage to stay out. An accurate altcoin portfolio can be built in this window. ApeCoin, for example, was one of the stars of 2022, backed by the notorious NFT collection, the Bored Ape Yacht Club (BAYC). Native token APE is a decentralized ERC-20 management and service token. Apecoin investors manage themselves using the Ape Coin DAO, which grants voting rights over the network.
Especially in early 2021, Bored Ape Yacht Club (BAYC) was the darling of the NFT market. This was followed by Apecoin’s performance in the new year. Forecasting platform Wallet Investor AI now predicts that the price of APE will increase by +956.99% over the next 5 years.
Decentraland (MANA)
Decentraland is an Ethereum-based, decentralized, user-owned virtual world. Games and various events are organized in the Metaverse ecosystem. Here you can come up with your own designs and applications as an individual. It is even possible to trade real estate on land.
Users can also enjoy live music concerts, conferences, exhibitions, etc. in this virtual world. they meet at events. In the world of Decentraland you can monetize your content and apps. MANA is the native cryptocurrency of this ecosystem. It is also one of the largest metaverse projects in the market. It will be very interesting to watch what it will bring to this sector in the coming years.
There are interesting drops in the Metaverse coin market
On the pessimistic side, the metaverse coin market, which has been melting since the beginning of the year, has yet to make a significant return. According to the data, the trading volume of the metaverse market fell 91.61% in the third quarter to $90 million. The decrease in the number of land sales by 37.54% compared to the previous quarter shows that the interest in such projects has not decreased as much as before. In addition, the transaction volume of the top 10 metaverse projects decreased by an average of 80% compared to the second quarter. Despite this, the number of sales decreased by only 11% on average.
In September, only 0.7% of Decentraland’s more than 97,000 properties were listed and sold, although there were 1.48 buyers for each land seller. Sandbox Alpha Season 3 hosted more than 90 experiences with 4 million people registered to a wallet and over 200,000 monthly active users. This helped the platform increase its sales by 190% compared to the previous quarter. As a result, metaverse-based coins lost an average of 60% of their value due to economic uncertainty. You can reach the current reports that we have transferred as Kriptokoin.com here.
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