Analysts at Dappradar suggest that sales of metaverse-related mysterious tokens rose 27% from the previous month in August, suggesting that they could “slowly sneak into the virtual world.”
A report published Thursday showed that it fell slightly from August to July, but slightly from July, representing a 27% increase from 13,927 sales.
“It’s the second month of stable activity, suggesting that users could slowly return to virtual worlds like Sandbox, Mocavalus, etc. and Central,” writes X.
Metaverse saw peak hype in 2021 and 2022. This slowed down after 2023 after its first popularity exploded, driven by speculation and excitement about what technology could achieve.
sauce: Dappradal
People “sneak” to Metaverse
In July, Dappradar recorded $6.7 million in sales and 10,900 trading volumes in Metaverse.
Dappradar analyst Sara Gherghelas said the numbers for August show that “metaverse is not yet dead” and that people are “sneaking into a virtual world.”
However, this year January is the best month for sale, with $7.7 million, and it could be best for trading after April and each exceeds the volume.
A platform focused on long-term infrastructure
At the moment, Gherghelas said top platforms are focused on infrastructure and building over the long term.
Sandbox, a Metaverse-centric subsidiary of the Hong Kong-based three web company Animoca brand, held its largest land auction in July. The Web3 ecosystem and NFT project MoCaverse is preparing to launch the MOCA chain, and is expecting a testnet for the quarter.
At the same time, other sides, a metaverse platform developed by Yuga Labs, released their AI-powered worldbuilding tools in August.
Decentraland, a browser-based 3D virtual world, has announced major engine upgrades, with Hytopia (Web3 Gaming Platform and Metaverse) replacing the $Topia token with the new $Hybux token. The team also expanded its creator fund.
Related: Animoca’s sandbox overhaul as co-founder confirms new strategic roles
“While volume remains modest, major platforms shift their focus to long-term infrastructure, identity and creator tools,” added Gherghelas.
Metaverse is still a project under construction
The company is also working on launching Metaverses with artificial intelligence startup Infinite Reality, a music-piling app in March to acquire music streaming service Napster, and plans to add a music-focused metaverse.
Meanwhile, the DTTM business, a company owned by Donald Trump, filed its trademark in February and is linked to the metaverse and NFT market, which is built around the US president’s brand.
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