How many Metaverse users are there?  The numbers are debatable and frustrating

How many Metaverse users are there? The numbers are debatable and frustrating

good morning. Here’s what happens:

the prices: Bitcoin rose slightly in tepid trading as investors await the upcoming CPI – not that it is likely to present any surprises.

ideas: Metaverse companies like to think they’ve built a significant following, but the data suggests that’s far from true.

Watch the latest episodes CoinDesk TV For insightful interviews with crypto industry leaders and analysis. And the Sign up for First MoverOur daily newsletter puts the latest moves in the cryptocurrency markets in context.

the prices

CoinDesk Market Index (CMI): 939.17 + 0.1%

Bitcoin (BTC): $19,117 + 0.4%

ether (ETH): $1,294 + 1.0%

S&P 500 Daily Close: 3577.03 −0.3%

Gold: $1,679 an ounce + 0.0%

Daily Close of 10-Year Treasury Bond Yield: 3.90% −0.04

Bitcoin, Ether and Gold prices are taken around 4pm New York time. Bitcoin is the CoinDesk Bitcoin (XBX) price index; Ether is the CoinDesk Ether (ETX) price index; Gold is the Comex spot price. Information about CoinDesk indicators can be found at coindesk.com/indices.

Constant Sounds of Silence in Bitcoin

Written by James Rubin

Bitcoin’s quiet life continues.

The largest cryptocurrency by market capitalization recently traded at just over $19,100, almost flat over the past 24 hours as investors await Thursday’s release of the upcoming US Consumer Price Index (CPI). Unexpectedly, CPI is expected to show a slight dip, but not enough to keep the US central bank away from its current monetary aggressiveness. BTC has been range-limited for weeks, largely between $19,000 and $21,000, despite its brief dip below the low support on Wednesday. Volume has remained tepid, regularly dropping below the 20-day average.

“Nothing happened today,” Buddy Pinkner, research analyst at a crypto-focused financial services company Arca, for CoinDesk. Markets were slightly higher.

“Very low trading volumes across the space,” Pinkner added. “We were stuck in a range.”

Ether, the second largest cryptocurrency by market cap, has been changing hands recently to below $1,300, about where it stood for most of Wednesday but is up nearly 1% from Tuesday, at the same time. Other major cryptocurrencies were mostly flat, although recently SUSHI fell more than 5%, while TRON rose more than 1%. CoinDesk Market Index (CMI)a broad-based market indicator that measures the performance of a basket of cryptocurrencies, has been flat.

stock

Stocks threw the first two promising days of October into the rearview mirror as the tech-heavy Nasdaq, the S&P 500, which has a strong technical component, and the Dow Jones Industrial Average extended its current losing streaks to six days. Markets were nervous about a 0.4% increase in the producer price index for September, a disappointing sign after the slight decline in the previous month.

CPI watchers expect the latest reading to remain above 8% with Core inflation, which eliminates the impact of volatility in food and energy prices, as it rose to 6.5%, the highest level in four decades. This increase will bolster the argument for an already-set Federal Reserve to continue its recent regime of sharp interest rate hikes, discouraging already volatile investors from riskier assets.

In an onstage discussion on Wednesday at the IMF’s annual meeting, the fund’s managing director, Kristalina Georgieva, said, He said That central banks refrain from intervening in currencies, and instead suggest that they use interest rate hikes as a preferred tool to combat foreign currency weakness against the dollar. “Don’t waste your reserves protecting your currency,” Georgieva said.

Arca’s Pinkner noted a downward trend in the correlation between cryptocurrencies and other risk assets “over the past two months.” However, for any class you will likely need a catalyst, and that catalyst is likely to be broad currency deterioration across various economies and mostly to Bitcoin as a non-sovereign and safe-haven asset, and such a catalyst is likely to be unexpected or not There is a catalyst, and we remain attached to the risk assets. “

Biggest Winner

Biggest loser

ideas

The Metaverse is struggling to catch it

Written by Sam Reynolds

Metaverse need an enumeration. A few have tried, but so far no one can agree with the enumerators’ findings.

Horizon Worlds, like Decentraland and the metaverse in general, aren’t quite as popular as what symbol holders Mark Zuckerberg or the Metaverse would like to think. The problem is in the numbers.

earlier this month, I mentioned the edge The VR Horizon Worlds social network Meta is so bug-ridden that its developers don’t use it often.

“But currently feedback from creators, users, gamers and a lot of us on the team is that the overall paper weight, stability issues, and bugs are making it very difficult for our community to experience the magic of Horizon,” Metaverse Vice President Vishal Shah wrote in a note obtained by The Verge. . “Simply put, for an experience to become exhilarating and discreet, it must first be usable and well designed.”

Meta Claims That Horizon Worlds has 300,000 subscriptions, but there is no indication of the number of active users.

One of the proxies could include looking at related Facebook groups: Horizon Worlds official page He has 31,644 followers while the official of Horizon Worlds is Facebook community group It has 28,200 members. Let’s say there is a lot of overlap which means the higher number is the total addressable market.

If we want to know the market available for the service, we should look at the installation base of VR headsets.

(Steam/Steampowered.com hardware survey)

Steam digital game store – A must for any PC gamer – says 2% of it 132 million monthly active users You have a VR headset. Of those 2 million, 64% use Meta Oculus headphones, putting the install base at 1.28 million.

So with that in mind, even if the Meta number of 300,000 is correct, it only means that 23% of the VR install base is using what Meta believes is the company’s future. But this is the best case scenario, the more realistic number is closer to 31,644 which means about 2% of the VR install base is using Horizon Worlds as Meta intended.

The Mysterious Mathematics of Decentraland

But what about Decentraland? There was some MANA obsession earlier this week when CoinDesk, citing DappRadar numbers, reported, mentioned It’s a secluded world with 38 people in a $1.3 billion ecosystem.

The DappRadar number is based on analysis of the Decentraland smart contracts that are being interacted with. Decentraland HQ says it’s not looking at the whole picture And only a few hundreds of smart contracts are available.

decentralization, instead, Offers its own sets of numbers through her gate DCL metrics Which says there were around 7,000 unique users in the last 24 hours visiting 6,900 individual virtual packages.

The validity of these numbers begins to melt away as soon as you take a closer look at them. Their data shows that there were also dozens of “marathon users” who spent most of the day in Decentraland.

Marathon Users (https://dcl-metrics.com/)

Marathon Users (https://dcl-metrics.com/)

There is also another list of users – which does not appear to be nested – who visited hundreds of parcels during the day.

Obviously, there are bots among us.

Perhaps the most realistic number of DCL-Metrics can be found in the daily active users of the ICE Poker house, which he says is just under 3000. This may actually be where the real residents of Decentraland lie as ICE Poker has actualAnd the Documented player base.

There are two more stars in the data sky that can help us triangulate the location.

On Github, Decentraland runs something called a Catalyst Monitora tool that tracks the load on each of its servers, which it calls triggers.

(https://decentraland.github.io/catalyst-monitor/)

(https://decentraland.github.io/catalyst-monitor/)

The number of servers shows that there are a total of 518 users on the platform as of late Wednesday afternoon AST.

This number is close to the number of employees of 457 appreciated by Nansen on the Entity Billboard tool. Nansen would like to stress that this tool is largely in beta, and only tracks 72 smart contracts used by Decentraland.

At the same time, there 269698 unique holder from MANA tokens. Even if we used some of the best-case numbers from ICE’s poker house of 3,000 as proxy for the total active population of Decentraland (this would be a best case scenario, realistically the number is closer to what Catalyst and Nansen provide) that’s only 1% of MANA token holders are the users of the platform.

Not exactly a bullish case for Decentraland and Metaverse in general.

But we had all of this A decade ago with Second Life. Which had better graphics, smoother gameplay, and an actual community – not token holders pumping their bags trying to make you believe this is the future of the internet.

important events.

8:30 PM Hong Kong time / Singapore time (12:30 PM UTC) US consumer price index report

9:30 PM H1HKT / SGT (1:30 PM UTC) Centenary Meeting of the Unsecured Creditors Committee

Defcon Bogota 2022

CoinDesk TV

In case you missed it, here’s the latest episode of “First Engine” on me CoinDesk TV:

DeFi Exchange Mango exploit worth $100 million; Crypto startup funding status

There was another massive crypto exploit, this time linked to market manipulation at Mango, a Solana-based decentralized exchange. First Mover discussed the state of the cryptocurrency industry and markets with Tribe Capital co-founder and CEO Arjun Sethi. CoinDesk’s Cheyenne Ligon provided an update in Grayscale’s lawsuit against the SEC regarding the agency’s refusal to implement Grayscale’s Bitcoin ETF. In addition, DIMO aims to help drivers obtain and monetize their vehicle data, and DIMO co-founder Andy Chatham joined the conversation.

Addresses

Crypto Hacks Fuel Memes of North Korea: Blockchain Biggest Baddie: Funding secured for the next missile launch.

The second tier projects of Ethereum duke it out for domination: Ethereum’s Layer 2 benchmarking platform is taking center stage in the new chapter of the network, and it’s not clear if early movers have the biggest advantage.

The Canadian Self-Regulatory Agency has approved the first native cryptocurrency investment trader: Coinsquare has also been granted a license to operate as a regulated alternative trading system, allowing it to match large illiquid crypto trades among institutional investors.

Cryptocurrency Center Think Tank Sues US Treasury Over Tornado Cash Sanctions: Coin Center is supporting a second lawsuit against the US Treasury, alleging that its sanctions against Tornado Cash exceeded legal limits.

Kazakh legislature pushes new encryption rules forward, reports Russian news agency TASS: The country’s lower house of parliament has passed five bills related to digital assets as the government seeks to tighten its grip on crypto activity, especially cryptocurrency mining.


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