Metaverse Weekly Wrap-Up: Apr 30-May 6

6 min readMay 9, 2022

Keyword of the Week: Otherside

Highlight of the Week: Otherside’s initial mint of 100,000 Otherdeeds rocked the Metaverse, sending gwei prices rocketing and reaching a market cap surpassing Decentraland and The Sandbox, combined.

Part 1: Data Report

This week kicked off with a bang — Yuga Labs‘ long-awaited and hugely anticipated metaverse project Otherside debuted on May 1 with the largest NFT mint in history. The project’s market cap ended the week at 5.54m ETH, approximately 12% higher than that of Decentraland and The Sandbox combined.

KYC’d wallets snapped up a limited supply of 55k Otherdeeds which, as the name implies, are deeds for land in a virtual world still under development. (10k, 20k and 15k were reserved for BAYC, MAYC and the dev team respectively.) It quickly turned into a gas war of epic proportions, gwei prices soaring as high as 8,000 (about $4k) and clogging the Ethereum network. In the end, sales generated $285 million.

According to OneLand data, 25,144 Otherdeeds were picked up at an average price of 9.1ETH, the most expensive selling for 333.33 ETH.

The token price has experienced a tempestuous ride over the past fortnight. First, eager Apelanders stacked up on their APEcoins in anticipation of the mint, pushing the price from $10.70 up to $26.19 on the eve of the mint, then sent the price crashing back down to $12.71 on May 7. Likely, many also took advantage of the token-stacking to pump the price in readiness for a nice profit-taking.

The Sandbox concluded their Mega City 2 auction on May 3. In total, 93 LANDs were sold, bringing in around $552k in revenue. It included the record-high sale of a 12x12 Estate, purchased by BIBET for 626,666 SAND, or approx. $1.45M.

NFT Worlds kicked off its Genesis Avatar Mint on May 4, causing transfer numbers to rise significantly, up 66% from a week earlier. Then on May 6, NFT Worlds published data in their Discord showing player numbers passing 50k, up from just 15k in March.

NFT Worlds also announced plans for a dashboard that will showcase important player statistics such as total player numbers, average playtime, new players joining daily and more. OneLand will publish this data for you in this weekly wrap-up once it is released.

For comprehensive market and metaverse project data, check oneland.world.

Part 2: Weekly Events Wrap-up

03/05

TSB announced 93 Lands of Mega City 2 have been sold, representing revenue of 552k USD.

Dubai’s Virtual Assets Regulatory Authority (VARA) announced its entry into the Metaverse with the establishment of its VARA MetaHQ in TSB.

Dubai's VARA becomes the world's first Regulatory Authority to enter the Metaverse

Move reflects UAE's commitment to the New Economy and confidence in the security and sustainability of Web 3.0…

www.zawya.com

04/05

The SandStorm teamed up with Aplacadabraz to launch the 8th edition of its Builders Contest — Alpaca craze. Players need to create a fun animated scene including an Alpaca in the ranch to win the prize.

Sandstorm Builders contest #8 - Alpaca craze

It's this time of the month again, dear builders! A new SANDSTORM Builders contest just launched! It is brought to you…

sandstorm.co

01/05

QxG hosted a 30-day DCL photo challenge that included over 300 MANA in wearable prizes and raffle giveaways.

02/05

Tom Sachs: Rocket Factory held a Twitter Spaces to discuss DCL.

05/05

The Megacube 2 announced they would back and mining opened in DCL.

30/04

Voxels created the Pastel Island, and minted 81 parcels. This island is located in the north-west of the Voxels map and divided into three separate suburbs — Daffodil Dunes, Forget-Me-Not Forests and Strawberry Sands.

03/05

Voxels held an AMA session with their CEO at VoxCon.

Voxels released more new features and bug fixes.

04/05

Voxels held a rebranding event on Andromeda Island.

The former ‘CryptoVoxels’ celebrated its metamorphosis with a grand carnival of entertainment. During the event, the team shook off their cumbersome ‘Crypto’ alias, leaving in place the more streamlined and more accessible ‘Voxels’ as its all-encompassing brand.