Metaverse June Report: Land value fluctuates less in the bear market, fashion brands settle in Metaverse

Original title: "Metaverse Monthly Data and Analysis Report"

Original source: OneLand

Highlights

- Crypto market cap plummets below $900B, down $2.045T from ATH

- Fed Fight inflation by raising interest rates

- Metaverse project land volume affected but outperforms cryptocurrencies and other NFTs

- Otherside is not as good as expected, resulting in a large investment loss

- Voxels, The Sandbox and Decentraland are relatively strong in the bear market

- Several fashion brands have settled in Metaverse

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1. Market Overview

Cryptocurrency market cap plummets below $900B, down $2.045T from ATH

Supply chain problems, combined with the ongoing war in Ukraine, have led to rising commodity prices, led by oil, adding to inflationary pressures. At its June 14-15 meeting, the Fed raised 75 basis points for the first time since 1994. Meanwhile, many Fed officials are arguing for further rate hikes in the coming months to bring inflation more in line with the stated 2% target as the economy gets into full swing.

For large institutional investors such as hedge funds, The risk-reward calculation favors "safer" investments like bonds over higher-return but riskier assets. These high-risk assets include cryptocurrencies and other Token assets.

Overall, the cryptocurrency market had an extremely tough month in June. BTC, which started the month at $31,951, lost 36.4% of its value by the end of June, well above double the loss (-15.3%) in May. Likewise, ETH ended the month down 44% at $1,094. Both BTC and ETH bottomed out on June 19, hitting 30-day (actually 1.5-year) lows of $18,084 and $944. Entire cryptocurrencies, NFTs, and Tokens of the Metaverse are not far behind.

This May, Luna The foundation was forced to liquidate assets worth as much as 80,000 BTC, while the credit crunch triggered by the liquidations of Celsius, Three Arrows Capital (3AC) and Babel Finance hit the cryptocurrency market again. A growing number of crypto lenders such as Blockfi have either stopped withdrawals or are being acquired. It all caused the cryptocurrency's market capitalization to crash below $900 billion on June 30, down 29% for the month and 69.5% since peaking in November 2021, or $2.045 trillion.

At the same time, encryption Miners continue to face intense pressure on mining costs as a result of falling currencies, resulting in a continued drop in BTC prices, with the “raw” cost for North American miners at $22,000 (Daily Telegraph, June 10). As of June 30, the price of BTC remained below $20,000.

2. NFT and metaverse track

Metaverse Land suffered less losses in June than Metaverse Token, other cryptocurrencies and nft

NFTs

The NFT market has also suffered. Global monthly sales of NFTs dropped a whopping 72.3% from $3 billion to $849 million (CryptoSlam), down 82.4% from January’s ATH. On Ethereum, the total transaction volume (Nansen) of NFTs has dropped by 55%.

Equally fascinating Yes, there is a difference in the number of buyers (567,771) and sellers (967,117) (CryptoSlam) in June, which is in contrast to the first quarter. Buyer-seller comparisons were down 34.74% in May.

The Metaverse< /b>

Overall, compared with the value of NFT and Metaverse Token, the land value of Metaverse has the least fluctuation in the bear market.

Except for Otherside, all other 6 metaverse projects in June (The Sandbox, Decentraland, Voxels Somnium Space, NFT Worlds and Worldwide Webb) saw a 60.7% drop in volume. There is no doubt that June has been a rollercoaster month for the global economy as a whole, but more broadly, there are good signs as to whether — time will tell — virtual real estate becomes a reality for crypto investors. Effective hedging tool.

According to OneLand data, even Considering the large fluctuation of Otherside, compared with the volatility of Token price, the land price in June remained more stable and fluctuated less.

As a 5-year-old, one of the most mature metaverses, Voxels has demonstrated its robustness, with the past 3 months (Q2 ) had the smallest drop in market capitalization of less than 4%, compared to 20-30% for other Metaverse projects.

Metaverse Token< br>

Specifically, including The Sandbox, Decentraland and Somnium Space The land value has decreased less than the token value. The Sandbox is actually up for the month, while its token is down 22.9%, and Somnium Space’s land value is down 13.9%, while its native tokenCUBE is down 23.3%.  

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The Token of the Metaverse project followed the path of BTC and ETH, falling from the monthly high on June 1 to June 19 lows, before recovering slightly towards the end of the month. In fact, $SAND surged 80% in price and $MANA 40% from June 19-26 on news that 35 global tech companies led by Meta launched the Metaverse Standards Forum (although Neither was invited to participate). However, all Metaverse lands saw a 30-day decline in June.

3. Monthly Topic: Fashion Industry Enters Metaverse

The metaverse continues to be defined, explored, experimented with, especially with the A growing number of IRL industries are consolidating. The fashion industry is already making waves in this emerging market!

From PFPs and Avatars to Digital wearables, branded NFTs, and now post-life fashion shows, 2022 sees an ever-increasing mix of innovation between virtual fashion and IRL. The intersection between digital and physical offers great potential for building brand recognition in the future, especially among a young and creative customer base, whether in the metaverse and/or the real world.

Some fashion brands have adopted With this move, it acquired digital real estate, invested in virtual advertising, and hosted wearable contests and fashion shows. These include Adidas, Burberry, Dior, Dolce Gabbana, Gucci, Nike and many more. Meanwhile, a growing number of digitally native brands have sprung up, like DressX, which sells virtual wearables ranging from basic undershirts to warrior outfits made of digital metal. This, combined with the creator economy and scope of digital ownership that NFTs bring, has the potential to democratize traditionally elite industries.

Decentraland's Fashion District (L);  L'Atelier - a Metaverse hub for fashion enthusiasts (R)