The largest metaverse platform by market cap is Decentraland, but only 379 people use it every day. Who are the users?
“Metaverse” was the word of the year for 2021. Other businesses, including Meta, changed their names to take advantage of the Metaverse movement. People in the community think that nobody cares about the metaverse anymore.
Even though the Metaverse platform is worth several billion dollars, it has trouble keeping customers, according to data from DappRadar, a program that gives information about decentralized applications.
At the time this was written, there were 616 people in the sandbox and 379 people who used Decentraland every day. Both projects are worth more than $1.2 billion on the market.
On the other hand, more than 21,000 people used Axie Infinity. Alien Worlds, on the other hand, has more than 202,000 users and a metaverse where gamers fight for scarce resources.
Why don’t people like Decentraland and Sandbox?
DappRadar says that an active user is a group of different wallet addresses that interact with the smart contracts of a certain dapp. Users who only search in the metaverse and don’t use smart contracts to buy or sell things might not be included.
Users can buy and sell things on platforms like Sandbox and Decentraland. At the same time, games like Axie Infinity and Alien Worlds need smart contract interaction a lot.
The differences were talked about on the official Twitter account for Decentraland. Conversation on Twitter Users quickly pointed out that even then, the numbers don’t add up to any of the widespread adoptions of popular games like Grand Theft Auto 5 or the popular PC first-person shooter CS GO. Huh:
In September, smart contracts were used by 1074 people. 1074/30 = 35.66 users per day, so When we compare this to Steam Micro transactions, how is the decentralization going? Not GTA 5 or CS GO, maybe… These numbers are still terrible.
How does the Metaverse compare to Web2 games?
The Decentraland community on Twitter thinks that these numbers are still correct. Bad Unlike GTA 5 or CSGO. Roblox Corporation, which makes video games, had more than 52,2 million daily active users around the world in the second quarter. statista,
Why aren’t people staying on the Metaverse platforms?
During the peak of the bull market, a lot of people used the Metaverse platform because it let them “play to earn.” Most platforms used the fact that players could earn cryptocurrency while playing games as their main way to get people to use them.
Platforms like Decentraland and Sandbox probably have big market caps because users see them as good places to invest rather than as places to switch from their favorite Web2 platform. People think there are definitely Pennies to be made, but the platform just makes that possible. Due to the dramatic drop in earnings from these sites during the bear market, users are going back to the Web2 platform.
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