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Oct 12, 2022

$1.2 Billion Metaverse Horrified

Posted by in categories: blockchains, cryptocurrencies

Metaverse project Decentraland, a sandbox environment that allows users to buy and sell virtual real estate, isn’t exactly teeming with people. Despite billions of dollars in valuations, companies betting on a metaverse future simply haven’t made much headway.

In fact, according to data aggregator DappRadar, the Ethereum-based world Decentraland only had 38 “active users” over a period of 24 hours — a confoundingly low number, especially considering the company has a market cap of a whopping $1.2 billion.

Decentraland pushed back, though, saying that “active users” are defined as unique blockchain wallet addresses that interact with its system. As CoinDesk explains, that means users who simply log in to chat or interact with others aren’t being counted.

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