Metaverse Weekly Wrap-Up: Apr 23–29

May 1st, 2022

Keyword of the Week: Mega City 2

Highlight of the Week: The 10-day Somnium Space $CUBE Extravaganza auction concluded successfully, selling off all but 5 out of a total of 152 parcels auctioned.

Part 1: Data Report

The post-February ‘correction’ continues. The above heatmap shows all six metaverses down again for the week, notably Decentraland which dipped another 8.45%. Worldwide Webb (on the back of some exciting updates this month) and Cryptovoxels (ahead of an impending name change next week) fared well in comparison.

It is already a full six months since Facebook’s rebranding to Meta led to an explosion in the market that peaked in February.

Average prices in The Sandbox continue to stagnate since dropping below 2 ETH on April 18 for the first time since November, the weekly average price finishing up at 1.93 ETH. Meanwhile, total land value in TSB is down 5.72% compared to last week.

The Sandbox kicked off its Mega City 2 Lands Sale on April 28. Sales in TSB jumped to 181 on April 29, up about 4 times from a day earlier. Data from the new sale is still emerging, and time will tell what impact it has on what has been a continuing dip in market performance for the premier metaverse.

On the same day, the 10-day Somnium Space $CUBE Extravaganza auction concluded. Of the 65 Small, 52 Medium and 35 XL parcels put up for auction, all XL parcels sold out, with only 3 Small and 2 Medium parcels remaining listed on OpenSea. Somnium Space announced that 208 ETH were used to buy lands during the Extravaganza auction, the highest sale clocking in at 11.2 ETH.

Meanwhile, Worldwide Webb secured the sales of two Penthouses over the week. Penthouse #9001 and Penthouse #9025 sold for 48 ETH and 44 ETH respectively, helping to lift the weekly average price to 1.85 ETH.

It also brought the number of Penthouses sold in April to 4, up from just 1 in March (all the way back on March 1!), suggesting a probable revival in Worldwide Webb interest amongst more ETH-strapped investors, as seemed the case in February when 7 were sold. It should be noted that sale prices were still lower than those in February and March.

Overall, it was a relatively good week for Worldwide Webb compared to the rest of the pack with sales up 60% and trading volume up 67% compared to a week ago.

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

Part 2: Weekly Events Wrap-up

27/04

The Sandbox updated its security protocols to maintain fairness for all players in TSB:

All bot and programmatic actions are prohibited

Creating multiple accounts to increase the chances of winning is prohibited

TSB has identified and banned users trying to exploit the system, and these users are not eligible for the Season 2 Alpha Pass Raffle.

28/04

The Mega City 2 Land Sale

On the back of the success of Mega City 1, TSB rolled out Mega City 2. New entrants to the space include* Ocean Park, Standard Chartered, Regal Hotels Group, Tatler Asia, EVI, Brinc, MADworld, Gameone, Chord Hero, Time Gates of Hong Kong Pop Culture and UFO School*.

82 Premium LANDs (with Premium NFTs), 10 ESTATEs and 38 LANDs were put up for auction on OpenSea, while 48 LANDS were also listed at a fixed price.

Regal Hotels Group entered the Metaverse with MetaGreen, the first green metropolis in TSB.MetaGreen is an environmental, social and governance (ESG)-themed estate developed by Regal Hotels Group to promote eco-friendly choices and foster a sustainable community that supports a circular economy.
SC Venture entered the Metaverse through the acquisition of virtual land in TSB.SCBHK was the first bank to acquire virtual land in TSB metaverse’s Mega City district.
Chord Hero entered TSB.

TSB’s co-founder appeared on Tatler TV to talk about virtual land and the future possibilities of the Metaverse.

https://media.tatlerasia.com/videos

26**/**04

Degree held the first-ever marathon in DCL.

The Degree Metatron featured the first-ever adaptive wearables in Decentraland as well as a wheelchair-friendly course. It marks the start of a journey in designing accessible and inclusive virtual movement spaces for the disability community.

23/04

CV released a list of bug fixes:

26/04

CV released more fixes:

27/04

CV released further updates:

Allow removing the uneditable layer between parcels if you can edit both parcels (e.g. in towers)
Highlight parcels in orbit mode to protect buyers from people selling 1 parcel advertised as 2