According to WeMeta data, the price of virtual land will drop significantly in 2022 due to waning user interest and the impact of the crypto bear market.
The average price per virtual land for the six major Ethereum metaverse projects (Decentraland, TheSandbox, Voxels, SomniumSpace, NFTWorlds, and SuperWorld) dropped 85% from around $17,000 in January to around $2,500 in August.
Additionally, on a weekly average, virtual parcel transaction volumes fell from a peak of $1 billion in November 2021 to around $157 million in August 2022.
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