Metaverse Business Horrified as It Only Had 38 Active Users

Written by Reananda Hidayat Permono  Completed Master Degree from Curtin University, Perth, Australia.

Exploraphones.com

“Metaverse” was the popular word in 2021 as various companies started rebranding themselves to ride along the trend, including Meta.

However, the digital community now believes nobody anymore cares about this metaverse thing.

According to the data from DappRadar, metaverse platforms like The Sandbox and Decentraland are struggling to maintain customers.

Interestingly, both metaverse companies still have a multi-billion dollar market cap of more than $1.2 Billion.

There are 379 and 616 active daily users for Decentraland and The Sandbox, respectively.

On the other hand, other platforms still retain promising metaverse, active users.

Alien Worlds had over 202,000 users, and Axie Infinity had over 21,000 users.

There is a significant difference between Decentraland – Sandbox platforms and Axie Infinity – Alien Worlds games.

Users of Decentraland and Sandbox platforms don’t need to make frequent transactions. Meanwhile, Axie Infinity or Alien Worlds players need to interact.

Therefore, this metaverse game can gain more active daily users.

Players could earn crypto while playing games, so those games don’t have a “metaverse 30 active users” phenomenon.

But the bear market made the earnings through these platforms decline drastically, so people are moving back to Web2 platforms.

Sasha Fleyshman, the portfolio manager at Arca, explained, “Anyone telling you that there’s a metaverse today that has worked is lying through their teeth.”

After all, some big companies have shown their commitment to go into this business, including the Facebook metaverse.

Designed by Alexander Rabu