What Happened to the Metaverse?

Late 2021 to 2022 was a wild year for the Metaverse. Coming off the DeFi high, everyone and their financial advisor flocked to invest in Metaverse projects after Zuckerberg rebranded Facebook to Meta like a stampede of bulls charging towards a red cape, except the cape was a coin flip that could make you a millionaire or send you to 0.

Metaverse projects were doubling in value every week, and brands were announcing ambitious Metaverse plans.

People were buying up NFTs for tens of millions of dollars only to resell them for a few hundred dollars.

We’re not here to talk about what caused this blockchain-powered Metaverse hype train with no brakes to spin out of control to the point where people were emptying their bank accounts into whatever NFT that was pumping that day. Instead, we’re just here to ask:

Is the Metaverse over?

Decentraland's billion-dollar metaverse had only 38 active users in one day, according to a DappRadar report.

This is just one the many numbers that paint a bleak outlook on the Metaverse’s future. Of course, Decentraland disputed the report, claiming it has 8,000 active users on a daily basis, which is less than the active player base of the 14 year old Left 4 Dead 2 game.

Alright, let's check out the bullish and bearish stats of the two most popular decentralized "Metaverse" projects out there, Decentraland and The Sandbox.

🐂 Bullish stats

Decentraland

According to Decentraland, they had an eventful 2022, with the platform growing in a variety of ways and the Decentraland community contributing to its success. So, all year long, the Decentralites(DEFINE) really stepped up and made a bunch of new stuff. They did everything from making cool Emotes to creating awesome experiences. Some of them even launched super cool projects that helped out the platform and the community with the help of DAO grants.

Key Stats: