Popular metaverse properties, such as Otherdeeds, The Sandbox, Decentraland, Somnium and Voxels, have all depreciated in value over the past year.
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Prices of virtual lands on some of the top metaverses have declined significantly from their peak prices of 2022, with most depreciating around 90% in value.
A study published by CoinGecko shows that popular metaverse properties, such as Otherdeeds, The Sandbox, Decentraland, Somnium and Voxels, have all depreciated in value during the period studied, from January 1, 2022, to May 24, 2023.
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Metaverse land prices comparison. Source: CoinGecko
As shown above, the most expensive property at the time, Otherdeeds by Otherside, which once sold properties for 5 Ether (ETH), is currently selling at 1.09 ETH, down by 78.2%. The
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