The metaverse isn’t doing the trick as successful as some investors thought it might have. A new report states that games built around NFTs, Bitcoins and blockchain have difficulty keeping players.
The report comes from the Coin Desk (via VGC), which noted that several games made up of NFT are merely losing players, but also losing their values. The report says the three main metaverse protocols, Decentraland’s MANA, Axie Infinity’s AXS and The Sandbox’s SAND are all over the year old and is very underperforming.
Related: Dr resigns NFT Game That is Star Citizen For Gen Z.
Like the chart below, Axie infinity, Decentraland, and The Sandbox NFTs have lost value in 2022, while 2021. April was very difficult with all three avoiding oxie-infinitys, but the case of this etiquette is likely due to a security breach that saw many NFT holders lose a lot of money.
There isn’t just one word being lost, but players too Daily activity counts have dropped for all three games, With The Sandbox losing 29% of the active user’s over the past thirty days (down to 1180 players) and Decentraland losing 15% (down to 978). All three have achieved the most success, with 107,240 concurrent players, but the number of players arriving at the start of March still declined 30 percent.
Coin Desk postulates that a large amount of money invested in the metaverse, not in NFTs, but rather in player counts. Some explanations might be enough, but Asda wrote, he believed that there is no organic engagement for players. A big reason for the lack of NFTs often creates a low-wage environment. The majority of videogame publishers aim to save themselves from using them.
News of a failed metaverse comes not a month after a report that showed NFT trading volume has dropped 80% since its peak last November, resulting in NFTs losing nearly half their value. Some sources of public protest against NFTs are believed to be the cause of the sack of sales, but weekly reports of hacks and frauds don’t help either.
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