Wild virtual universe

 Some metaverses valued at billions of dollars are no longer attractive, at one point the platform only had 19 users.


used to be the keyword that drove the tech community crazy last year. This is considered the next important turning point after the Internet era. From startups to well-known technology corporations such as Meta, Microsoft, ByteDance, Amazon, Disney, Nvidia... all have no hidden ambitions in this field.

Bloomberg once estimated the metaverse industry will be worth $800 billion by 2024. However, the heat of the virtual universe has cooled recently. Decentraland, one of the most famous metaverses with millions of USD virtual parcels of land, is now a desolate place without people.

The scene inside the virtual universe Decentraland. Photo: Decentraland
The scene inside the virtual universe Decentraland. Photo: Decentraland

According to CoinDesk, earlier this week, the number of daily active users on Decentraland plummeted to an average of 38 people. At the lowest even 19 people. Late last year, when the metaverse became a craze everywhere, Wired reported that every hour Decentraland had about 1,600 people participating at the same time.

Axie Infinity had 2.7 million monthly users earlier this year and sold $2.3 million worth of virtual land in the metaverse. Today, the blockchain game has only 700,000 players per month, according to Activeplayer data.

Another Decentraland competitor, The Sandbox, also has 522 active users for the day. According to DappRadar, the actual number of active users in the virtual universe is much lower. Not everyone logs into The Sandbox or Decentraland to trade and sell, many people simply access it and let it make the scene in the metaverse even more bleak.

Before the above data, Decentraland confirmed in September they had 1,074 users. However, the platform does not account for the number of 19 daily users. Meanwhile, Arthur Madrid, CEO and co-founder of The Sandbox told Coindesk that the metrics DappRadar put out are based solely on transactions. In fact, many people still use the platform without making this transaction.

However, according to experts, this is the problem of the virtual universe. Metaverse is still simple in terms of graphics and gameplay, most users enter this field out of curiosity and speculation. But as the cryptocurrency market plummeted, users abandoned the metaverse as well.

Before that, many people said their experience in the virtual universe was like walking into a ghost town. "In Decentraland's Fashion district, which is considered the most luxurious and crowded street, everything looks like an empty movie set, empty stores with no users," says tech writer Eric Ravenscraft of Decentraland. Wired description.

Some users say they feel lost and lonely in the metaverse. "I was walking around in The Sandbox, trying to start a conversation with someone but no response. It seems someone logged into the account and left it, not 'living' in the virtual universe," account Chris Tilley told about experience in early October.

Sasha Fleyshman, Arca Digital Asset Investment Manager, told CoinDesk that metaverse platforms will be much more valuable to users when they actually function as intended. However, the products on the metaverse are not attractive enough to retain users.

Even Meta, which has burned tens of millions of dollars into its Horizon Worlds virtual universe, has only attracted about 300,000 people, according to a February report. Even Meta employees are fed up with the company's metaverse. I created it because it still encounters a series of errors, unstable operation.

Many experts believe that the metaverse is too young to become the new turning point of technology. The reason the virtual universe became a craze at the end of last year was due to speculative psychology. Now the bubble has burst, leaving an empty metaverse.
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