Land Sales Volume In Decentraland And The Sandbox Dipped By Over 95% In Six Mont...

Even though many people are interested in the metaverse, certain aspects will change over time. For example, land sales across Decentraland and The Sandbox have dwindled significantly in recent months. Moreover, it seems that Decentraland’s downtrend will continue, whereas its competitor may experience a minor bounce. 

Decentraland And The Sandbox Struggle

No one is too surprised to see all crypto-related activity grind to a near halt in recent months. An expensive bear market makes investors and speculators warier about the risks they may take when opening new positions. That applies to crypto assets but also NFTs. So as the NFT market continues its downtrend, it is time to analyze the sub-verticals to look for positive signs.

No such sign is found in the world of metaverse land sales. We already documented how there are plenty of bargains, but they might not make for the best investment option today. Unfortunately, that goes beyond the “fringe” Metaverses, as Decentraland and The Sandbox struggle hard. They have not been able to buck the downtrend, and things continue to grow significantly worse, metrics-wise. 

MANA and LAND Are Volatile

It is interesting to see how the native currencies of these ecosystems evolved in the past six months. The Sandbox, or SAND, saw significant volatility a few months ago but has flatlined ever since. There is little to no momentum on the price chart over the past few months. Any momentum that occurs results in a lower price, culminating in a 72.187% price loss in the past 180 days. Not the best trend, but given the low interest in its land sales, that is not abnormal. 

Interestingly, the price chart for Decentraland, or MANA, looks virtually identical. The momentum of a few months ago has evaporated, and newer lows occur virtually every week. Like SAND, MANA is down by over 69% compared to six months ago. It seems unlikely either currency will bounce back, but the overall momentum looks very different for MANA.

More specifically, Decentraland’s asset has a steep decline across the board with one exception:

• Social mentions are down by over 58%
• Bullish sentiment is down by over 65%
• Twitter Volume declined by 58.5%
• YouTube volume increased by 846.5%. 

The Sandbox, on the other hand, saw a mixed bag of activity.

• Social mentions up by 35.1%
• Bearish sentiment up by 80.9%
• All social volume up significantly, with a 6.070% gain in YouTube volume
• Only 3.7% more social contributors.

It seems the lower price brings more attention to SAND than MANA. However, neither project sees any momentum in land sales to speak of.

Land Sales Keep Going Down

The overarching trend for land sales in Decentraland and The Sandbox has been on a steady decline. It has been a very outspoken trend since its peak in May 2022. Over $4 million in daily sales was astonishing, but it quickly dropped below $1 million in sales in the next 60 days. That combined volume is on the cusp of going below $100,000 if the current trend remains. 

While Decentraland makes a bit of a comeback over The Sandbox, its overall momentum is bleak, at best. Sales have dipped from over $400,000 per day to below $40,000. That is a steep setback, but there is little momentum in the broader NFT sector. As such, Decentraland land sales will gradually become sparser and lower-valued.

The same applies to The Sandbox, though. Its momentum has petered out almost completely in the past few months. While there are some peaks above $300,000 in daily sales, those are few and far between. Surpassing $35,000 per day is a big struggle now. 

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