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HomeTop NFT CollectionDecentraland closes 2022 on a sour note despite 440% growth in volume

Decentraland closes 2022 on a sour note despite 440% growth in volume

  • Decentraland saw year-over-year growth in NFT mints and purchases.
  • However, the value of the three NFT projects plummeted.

As detailed in year-end performance reportDecentraland, a leading metaverse-based platform, has confirmed an increase in NFTs created and purchased in 2022.

read in Decentraland [MANA] price prediction 2022-2023

According to the blog post, Decentraland will see 2.7 million unique NFTs created on its metaverse-based gaming platform in 2022. This represented a 440% increase in his NFT mint volume on a year-over-year (YoY) basis.

Additionally, Decentraland’s unique active users grew by over 12.9% in 12 months, reaching 1 million unique active users in 2022.

The Decentraland NFT ecosystem consists of Decentraland Wearables, Decentraland LAND and Decentraland Names. According to the report, 143,900 Decentraland Wearables NFTs will be sold in 2022.

Decentraland’s value drops significantly

Despite an increase in NFT mints and trading volumes, a valuation of the three NFT collections that make up Decentraland has revealed a significant drop in value in 2022.

This decline in value reflects general market sentiment for the asset class, with many abandoning speculative projects to escape the financial woes that lingered throughout the year. 2022 has been a difficult year as some NFT projects have taken a big hit in their value.

For context, the value of prime NFTs fell as the prime index dropped 45% in 2022. NFT Gothe Blue Chip Index is calculated by weighing the market capitalization (ETH/USD) of the blue chip collection and reflecting its performance.

Source: NFTGo

539.12 times the hike of the card What if MANA reached the market cap of Bitcoin?

in the meantime Wearables from Decentraland Data from NFTGo shows that the sales volume of the collection has increased and the floor price has dropped significantly in 2022. Through 2022, his NFT in the collection traded at less than 0.01 ETH. The 2022 high was 0.0099 ETH on February 22nd.

Decentraland Wearables, which ended the year with a lowest price of 0.004 ETH, fell 56% in value.

Source: NFTGo

Similarly, that Land NFT The collection suffered the same fate. Starting at 1.2 ETH at the time of writing, the value of his collection has fallen by 73% in 2022.

Source: NFTGo

further away, Decentraland name According to NFTGo data, the lowest price was 0.01 ETH as of December 31st. However, this collection sold him in February for as high as 0.09 ETH.

Source: NFTGo

Native tokens powered metaverse-based projects didn’t fare so well. The price of MANA, which was trading at $0.2939 at the time of writing, is down 91% in 2022. coin market capitalization clearly.

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