Now that we're past the halfway point in the year, we figure it was a good time to revisit some of our past reports that never made it onto this blog.
Here is a sneak peak into what you'll find on the January and February token reports:
Top 5 things you need to know (from January 2022 report):
The crypto market turned bearish in January–but popular NFTs, including The Sandbox’s LAND parcels, retained their value more than Layer 1 blockchain tokens such as Ethereum and Solana.
The Sandbox metaverse is releasing a “metaverse accelerator” to support the next generation of metaverse entrepreneurs with $50 million.
Tech giant Microsoft, developer of the AR HoloLens device, acquired Activision Blizzard for $69 billion and Sony acquired Destiny developer Bungie for $3.6 billion.
Metaverse games and projects remain among the most popular NFT offerings as they gain market share on blockchains like Solana.
The metaverse sector continued to experience tremendous expansion, with the number of land units sold increasing by 364% from 2,831 in January 2021 to 13,798 in January 2022.1
Closing thoughts - February 2022:
February saw breakout price and volume performance of several newer metaverses. Heightened interest levels in these platforms call into question the “Big Four” distinction, specifically for Somnium Space and Cryptovoxels, which have seen a second month of volume lagging behind these newer platforms.
These volume patterns seem to be symptoms of a growing ecosystem in which new metaverses are coming online that appeal to specific community types or people seeking specific features and play styles. For instance, while some of the world's largest corporations are planning developments in Decentraland and The Sandbox, close-knit NFT community projects have established virtual headquarters in NFT Worlds, as reported above.
More people and organizations will discover their ideal platform as the metaverse ecosystem expands, and we will continue to monitor investment trends.