While trading volume and prices of virtual lands plunged by over 90% in 2022, this sector catches the crypto investor community off guard with its incredible resilience. Previously, many people in the industry predicted that this sector would be challenging to attract interest again once Bitcoin began to recover above $ 21,000.
Decentraland (MANA), the project with just 32 active daily users, has climbed to 81.9% in only one week and is presently trading at $0.69, leading the trend.
Also, after a 41.8% surge, Sandbox’s SAND token is trading at $0.73 more than MANA.
The recent updates in early December 2022 and the debut of Homeland, the game’s version employing land NFT, boosted the surge of Axie Infinity (AXS) tokens.
Immutable X (IMX), a blockchain platform serving as a rapid Layer 2 solution for Ethereum, has increased by 30.5%, while Flow (FLOW) has risen by 33% over the past week. These indicate that the metaverse is likely to be back on track after the “great recession” in 2022.
The frantic virtual world community will have to thank the conventional “giants” that accelerate this remarkable “turn,” as they have generated much interest in the steadily growing discussion of the metaverse.
For instance, Microsoft has just acknowledged that it intends to improve the user experience via the metaverse. At the same time, the tech giant Apple revealed its plan to join the metaverse by introducing its virtual reality (VR) and augmented reality (AR) headsets.
