Market Data | Market News | Sales & Mints | Events Contests & Giveaways | Project Updates | Partnerships |
Highlights:
- FTX freezes funds, then files for bankruptcy in a historic week for crypto…& the future of decentralization?
- NFTs, including VRE, are not immune as $ETH tumbles and land caps stumble
- Decentraland fares better than most, as the Music Metaverse Festival garners attention
- Important project updates emerge from NFT Worlds & Illuvium…&
- New in-world features for OG metaverses Decentraland and Voxels
💹 Market Data & Analysis
In what turned out to be a historic week for crypto, the Metaverse was not immune from the fallout from the collapse of the world’s second largest exchange FTX. OneLand’s Metaverse Heat Index indicates weakening trade sentiment from mid-week, as news of FTX’s lightning descent into bankruptcy and total pariah cast its shadow across the world of blockchain.
OneLand 7-day data reveals a near 25% decrease in overall land market cap for the 10 listed projects to 863,320.78 ETH or approx. $1.055 billion. In USD terms, it represented a slashing of $347 million off land caps in a single week, as cryptocurrency and NFT markets crashed, the price of ETH sinking 22.3%.
Total volume was up week-on-week on the back of an uptick in trading activity of Otherdeeds (+132%) but not Decentraland (-10.3%) or The Sandbox (-12.9%), while the aggregate number of unique landholders appeared steady.
The increase in 7-day volumes and sales (up 446 on the previous week) however could do nothing to rescue Otherside from recording its fourth consecutive week of falling land cap (-4.5%). The 7-day average price was up marginally to 2.16 ETH, but is still a 50+% fall from 4.46 ETH on Oct 1. Ongoing chatter about a market bottom will be part of the fabric of any bear market, but is the highest recorded sale (50 ETH) since a 200 WETH purchase on Sep 27 a sign of things to come?
Meanwhile, over at Decentraland, the second annual Metaverse Music Festival kicked off Thursday just as the whole sickly fiasco involving FTX and SBF had quickly evolved into a soap opera and overtook Twitter.
It may have crashed the party for many (and did not do much for the lands market), but for true Decentralanders, especially those with computers and internet connections powerful enough to avoid the lags, it was a welcome relief. Some impressive stage designs, beautiful metaverse architecture alongside unique wearables from the crowd all set to the musical backdrop of 180+ artists from around the world showcased the potential of virtual worlds as a place to get down and party.
Inevitable criticism that the event itself did not match the surrounding hype will follow, but seriously, what’s new?
Honing in across the week, a relative flurry of sales from the start of the event balanced out the meagre five from the three days preceding it, and culminated in a top sale for the month of 9.93 ETH on its final day. On a weekly basis, Decentraland fared better than most others — its market cap holding steady (+0.25%), at least in ETH terms.
For comprehensive market and metaverse project data, check oneland.world:
🗞️ Market News
FTX
- Nov 7–13
Second largest exchange FTX collapses, halts withdrawals and files for bankruptcy. And then…a ‘hack’ of over $600 million in crypto, as rumors swirl of an inside job, a private jet carrying SBF to Argentina…and now, arrest? Wow!
So where to begin…or end? This thread captures the story.
The event is now history — looking back years from now, will it be the spark that ignited the real revolution in decentralization, and self-custody of assets? Kyla Scanlon talks up its significance:
Adidas
- Nov 7
Adidas launched a teaser video to its second phase of the metaverse journey, with NFTs to be unboxed Nov 16.
UBS & Julius Baer
- Nov 7
Swiss investment banks UBS and Julius Baer have begun testing client-interaction services in the Metaverse, replacing traditional boardroom meetings with headsets, and using virtual avatars.
NTT Docomo <> Accenture
- Nov 8
Japan’s largest mobile carrier NTT DOCOMO announced a $4bn foray into Web3 via a partnership with blockchain consultants Accenture. The two will establish DAOs and enable the use of tokens for governance.
ANA NEO
Metaverse travel service ANA NEO, Sompo Japan Insurance and MUFG Bank announced a partnership to provide financial services on ANA NEO’s platform ANA GranWhale.
🧾 Sales & Mints
The Sandbox
The Sandbox listed the following NFT collections in its marketplace:
- Nov 7: Epic characters from the Infinity Wars Card Game Multiverse
- Nov 8: Landtasy Summer Collection by @AlcyMeta
- Nov 10: Quest of Triloga 1st Festival Collection by Parapluie Studio
Upland
- Nov 11
Upland held its Landmark Reverse-Auction on Hollywood Roosevelt Hotel — starting bid was 17,270,000 UPX (approx. $440 at auction time). Los Angeles’ oldest hotel is located on the Hollywood Walk of Fame, across from the famous Chinese Theatre, auctioned in August.
Voxels
- Nov 10
Litty Pop Up Shop launched a Mega Wearables Sale, with several items which are playable in Voxels listed on OpenSea at the price of 0.005 ETH. The sale runs Nov 10 to Dec 5.
🎪 Events,🏅 Contests & 🎁 Giveaways
🎪 Events
Decentraland
- Nov 7
Entrepreneur-musician Carl Fravel hosted The Vendor Conference & Expo in the Grand Theater in Decentraland. Vendors presented their products and services, and conducted Q&A sessions.
- Nov 10–13
Decentraland’s 2022 Metaverse Music Festival, MVMF22, co-hosted with Kraken exchange, concluded Sunday. The 4-day event featured 15 unique stages and witnessed performances from 180+ musical artists including Ozzy Osbourne, Dillon Francis, Soulja Boy and Bjork.
Upland
- Nov 7
As the community prepares to vote on Upland’s first Improvement Proposal, UIP-1, co-founders Dirk Lueth and Idan Zuckerman discussed the Upland economy in an Economic Fireside Chat.
Voxels
- Nov 11
HIPHOP.GAME held a NFT Mint Party in Voxels, alongside a Twitter Space to celebrate it.
🏅 Contests & 💰 Giveaways
Voxels
- Nov 7
Voxels ran a competition on Scarcity Island. Players had to chase down PinkSheep on the loose for a chance to win.
Arcade Land <> Mouse Haunt
- Nov 12
Arcade Land announced they will host the Mouse Haunt Tournament, to kick off Nov 15 at 2pm UTC. Mouse Haunt’s newest game mode Dodgeball Arena is a free-to-play PVP incorporating immersive characters, land ownership, breeding and P2E.
Nifty Island
- Nov 10
Nifty Island kicked off its Create 3D game challenge, with entrants having to create a 3D game-ready flower to win 1 of 10 0.05 ETH prizes. The game runs till Nov 17, with winners to be announced Nov 21 on their official Twitter and Discord.
The Sandbox
- Nov 11
Kuniverse held a Twitter raffle for the chance to win a trip to the World Cup in Qatar.
Catch up on this week’s Twitter Spaces, project streams and interviews:
Decentraland: Behind the Scenes @decentraland MVMF22
NFT Worlds: Weekly WRLD — Avatars & Items
Somnium Space: Weekly Creator Session, feat. VR artist Denevraut
The Sandbox: The Future of Virtual Land with Sandbox, feat. NFTGir
Worldwide Webb: Interoperability in Gaming in Web3, feat. founder Thomas Webb & Coin Telegraph
Upland: Economic Fireside Chat, feat. founders Dirk Lueth & Idan Zuckerman
🛠️ Project Updates
Decentraland
- Nov 9
Decentraland announced a cool new feature that hints at what lies on the horizon.
The landscape previously remained unadorned till approached. Now it reveals specific colors based on the parcel type — empty parcels show up dark green, scenes light green, roads in gray and plazas a vibrant orange.
Voxels
- Nov 7
Voxels launched Lighting V2 and tweeted some details about it. The upgrade offers an additional layer of immersion, and a marked enhancement to the world’s overall aesthetic.
Illuvium
- Nov 8
Nominations opened to all $ILV holders to vote on the next five members on the Illuvium Council for Epoch 7. Nominations can be submitted here until Nov 15.
- Nov 10
Illuvium published its October Dev Blog. Arena 0.2.2 is now live, and Overworld 0.1.0 is nearing completion. Besides, the team reported it spent time “cleaning out tech debt” caused by “getting certain products out the door too quickly early on”.
NFTWorlds
- Nov 10
NFT Worlds’ WRLD 2.0 contracts were deployed on Ethereum and Polygon. $WRLD 1.0 on Polygon can be exchanged to the new $WRLD 2.0, no matter which chain the old $WRLD token is on.
- Nov 11
NFT Worlds released the MetaFab API details needed to build openly on top of $WRLD:
👬 Partnerships
Crust Network <> OneLand
Decentralized storage protocol Crust Network partnered with OneLand to provide its users with the best decentralized storage experience. Crust will provide its unique pinning and gateway services, as well as IPFS Scan tool and full technical support.
Worldwide Webb<>SUPERNORMAL
- Nov 7
SuperNormal NFTs have been integrated into Worldwide Webb. ZIPS holders can now represent SuperNormal with the Candy Hoodie Skin-in game, and interact with other ZIPS holders in the exclusive Penthouse Plot.
Upland<>FIFA
- Nov 8
Upland teamed up with FIFA to launch the FIFA World Cup Qatar 2022 TM experience. The partnership blends Upland’s earth-based virtual world, collectibles, outdoor deco and community-based challenges, with amazing moments from the 2022 World Cup in Qatar.
Dentsu <> Microsoft
- Nov 9
Dentsu International and Microsoft will create a shared virtual space to innovate and test new ideas and technologies. The collaboration intends to drive engagement in key areas like retail and customer service by enabling access via any web-enabled device, VR and mobile.
The Sandbox<>Forbes
- Nov 10
Global media company Forbes teamed up with the creative studio Polygonal Mind to hold a virtual luxury experience in The Sandbox.
The Sandbox<>LEAPR Studio
- Nov 11
The Sandbox has made an early stage investment in Argentinian creative studio LEAPR, with plans to launch a game in March 2023. The strategic partnership seeks to expand The Sandbox’s portfolio in Latin America.
Don’t forget — to access the most comprehensive, in-depth and up-to-date aggregated VRE market and project data, check out OneLand:
Twitter: @OneLand_World
Discord: OneLand
