Highlights:

• Illuvium publishes the final results of its Land Sale
• Voxels launches its new island, Chronos
• The Sandbox plans to bring 700,000 new gamers into its metaverse
• Paypal allows users to transfer cryptocurrency from their PayPal accounts to and from digital wallets
• CitiBank forecasts the revenue of the Metaverse to exceed 10x the market cap of crypto

1. Market Data & Analysis

Major indicators indicate a relative mirrored reflection of last week’s performance. Aggregated land market cap (-0.63%), trading volume (-1.77%) and holder numbers (+0.09%) were all steady for the seven metaverse projects listed on OneLand.

Given the ongoing bear market and overall decline of recent weeks, both The Sandbox and Voxels at least bucked the trend this time round, with both trading volumes and market caps up for the week, in contrast to the rest of the pack.

Sales of newly minted lands always bring a level of excitement to virtual worlds. Voxels launched its new island Chronos this week, which helped to reignite buyer sentiment, lifting sales near 50% from 19 to 29. At the same time, with the building auction on Architect Island last week retreating from the spotlight, the average parcel price suffered a decline (-14.59%).

Worldwide Webb suffered drops in volume (-42%) and average price (-17%) for the week. Though landholders competed for places on the scoreboard in Worldwide Webb as part of the promotional activities surrounding the news of V2, the activity seems to have brought little more attention to the metaverse.

The Sandbox held several contests and raffles in the past seven days. It also cemented a partnership with GamerHash with stated plans to bring its community of 700,000 gamers to the Metaverse. In the midst of a bear market, it makes a lot of sense to settle down and get things done, and the news may have had some impact. The Sandbox’s market cap increased 2.29%, while sales numbers as well as the average price were also up, though very marginally.

Sales in Decentraland dipped 20% this week, registering a 15% decline in trading volume. It’s worth noting however that an Estate sold this week at a price of 49.9 ETH. That, and another LAND sale for 24.95 ETH were enough to push the average price up by 6.53%.

It was not a good week for Somnium Space, registering only 1 sale, the metaverse’s land cap sinking another 6.88%. Meanwhile, the sheer magnitude of Otherside has ensured that trading of Otherdeeds still continues to outperform the land sales of all other virtual worlds.

Also widely reported this week was the fact that global NFT sales have been on a steady downslide, having plunged as much as 70% (depending on the number of projects and blockchains included in the calculations) in the past month alone. Meanwhile, virtual land NFTs, while correspondingly feeling the impacts of a crypto winter along with other NFTs, have yet to experience the same level of decline. The Metaverse remains the youngest, hottest and most talked-about space in the whole of Web3 right now

For comprehensive market and metaverse project data, check oneland.world.

2. Market News

Illuvium

• June 5

Illuvium released its final results from its Land Sale earlier this month. In total, 19,969 plots of land were sold for a total of $72.2m, with 239,388 sILV2 to be burned.​​

Voxels

• June 7

Voxels launched their new island Chronos.

Chronos Island has 400 parcels divided up into 4 districts of 100 parcels each. The districts are themed by season: Summer, Autumn, Winter and Spring.

Decentraland

• June 8

The May MetaMoment commemorative Wearable from the DCL Report went on sale in Decentraland’s marketplace.

Other Market News

• June 6

Apple announced plans to launch a new VR/AR headset in January 2023 to compete with Google, Microsoft and Meta (Facebook).

• June 7

Paypal announced a feature that allows users to transfer cryptocurrency from their PayPal accounts to and from digital wallets and exchanges.

• June 7

CitiBank reports the revenue potential of the Metaverse to be over 10x the market cap of all crypto, or around $1.25 trillion.

• June 8

Hyundai Card announced a joint venture with Like Lion to launch an NFT marketplace and wallet service.

• June 9

Web3 creator economy protocol DEIP announced it opened its Metaverse City with the collaboration of creators, 3D artists and meta-architects. The new virtual city on the Arhead Metaverse provides Web3 solutions, digital ownership and monetisation opportunities.

3. Events

The Sandbox

• June 6

The Sandbox hosted a Twitter Space with People of Crypto to discuss the first diversity and inclusion hub in the Metaverse, AlphaVerse, and the upcoming Avatar mint.

Somnium Space

• June 6

Somnium Space auctioned permanent banner slots on OpenSea.

The Front Page Banner NFT holder secured permanent rights to place ads under the main slider on Somnium Times’ front page. The holders also gain permanent advertising space in Somnium Space HQ.

Voxels

• June 8

Voxels held a Twitter Space to talk about better integration with yofolk and AR plug-in Foxus.

Decentraland

• June 9

Hyundai launched the New Creta in Decentraland. In the New Creta, players can view virtual cars, enjoy live music and collect free wearables.

• June 9

Decentraland live-streamed feature talks and presentations from the Metaverse stage at Consensus 2022.

• June 11

The Metaverse Pride parade kicked off with amazing performances on the Rainbow Stage. The parade runs live 24/7 until the end of June.

4. Contests

The Sandbox

• June 7

The Sandbox and Elvis On-Chain held a landholder-only raffle for 200 Backstage Passes/ WL spots for the upcoming Elvis Genesis Keys mint.

• June 8

Coinbase held a giveaway with The Sandbox to celebrate the listing of $SAND on Coinbase. People who buy $100 in total (including fees) of SAND on Coinbase by 06/21/22 are eligible to win.

Decentraland

• June 9

Meta Trekkers held a giveaway on Twitter to celebrate it becoming an official Decentraland Point of Interest (POI). 100 winners win a WL spot and new wearable.

Worldwide Webb

• June 9

Worldwide Webb held a Landholder Giveaway in Webb Defenders.

Landholders who gain a score of over 1M enter the raffle, with winners getting to mint MV3 access passes.

5. Project Updates

Somnium Space

• June 7

Somnium Space launched its Alpha+ Quest standalone VR Client.

The Sandbox

• June 10

The Sandbox has teamed up with Mastercard to bring its payment network to the blockchain. The financial services firm is also working with Immutable X, Moonpay, Candy Digital, Nifty Gateway and Mintable, and will allow card purchases for NFTs and other blockchain services on these companies’ marketplaces.

6. Partnerships

The Sandbox

• June 7

The Sandbox has partnered with GamerHash, a 700,000-strong Web3 gaming community, to bring new game experiences to the Metaverse. Gamerhash has already acquired a 6x6 ESTATE in The Sandbox, and plans to kick off with its first game TRAVERSE: Mars is Mine.

• June 10

The Sandbox collaborated with The Museum of Contemporary Digital Art (MoCDA) to bring two digital art exhibitions to the Metaverse — Revisiting the Future (June 10–24) and Impossible Worlds (June 24 — July 8).

Worldwide Webb

• June 12

Worldwide Webb announced the integration of Boki NFT. All Boki holders will be able to use the new default skin after the public launch of V2.

Don’t forget — to access the most comprehensive, in-depth and up-to-date aggregated VRE market and project data, check out OneLand.

Twitter: @OneLand_World

Discord: @OneLand_World