Home News $1.2 Billion Metaverse Horrified by Report It Only Had 30 Active Users

$1.2 Billion Metaverse Horrified by Report It Only Had 30 Active Users

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“People who say there is a functioning metaverse today are cringing.”

lonely road

The Metaverse Project Decentraland, a sandbox environment where users can buy and sell virtual real estate, isn’t exactly overcrowded. Despite billion-dollar valuations, companies betting on the future of the metaverse haven’t made much headway.

actually, According to data aggregator DappRadarthe Ethereum-based world, Decentraland, had only 38 “active users” in 24 hours.

However, Decentraland countered by saying that an “active user” is defined as a unique blockchain wallet address interacting with its system.As CoinDesk I will explainthat is, users who only log in to chat or interact with other users are not counted.

“DappRadar does not track our users, only those who are involved in our contracts,” said Sam Hamilton, Creative Director of Decentraland. coin desk, Additionally, the platform has an average daily average of around 8,000 users.

active user

Of course, 8,000 users a day is disastrous for what is supposed to be the online community of the future. And if blockchain is the underlying economic mechanism for this effort, it would be utterly embarrassing if only a few dozen transactions occurred per day.

In short, this is a perfect example of the huge disparity between market value and actual users that has plagued the Web3 world for years, and also severe slowdown Desire for virtual real estate and other blockchain-related assets, including cryptocurrencies and NFTs.

Vaporverse

Decentraland’s Twitter account also said the platform saw “1,074 users interacting with smart contracts” Full of September.

None of these numbers are significant, though, given the amount of money being poured into metaverse platforms like Decentraland.

And that doesn’t bode well for the future of the Metaverse.

“Anyone who says there is a working metaverse today is lying,” said Sasha Fleischmann, portfolio manager at digital asset investment firm Arca. CoinDesk.

read more: Lonely in the Metaverse: DappRadar Data Suggests Decentraland Has 38 ‘Daily Active’ Users in $1.3 Billion Ecosystem [CoinDesk]

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