The ecosystem is bullish on the Metaverse, no matter what the numbers indicate

The ecosystem is bullish on the Metaverse, no matter what the numbers indicate

Tentative interpretation of the October 11 DappRadar numbers I mentioned very low participation numbers Decentraland is one of the most popular metaverses in Web3. The numbers shocked the community, as the platform has a current market valuation of $1.2 billion.

Shortly after the initial report was issued, Check both DappRadar and Decentraland That the published number of fewer than 40 unique active wallets (UAWs) was not an accurate representation of activity on the network. According to DappRadar Keep track of At the time of writing, the UAW is just over 600.

A post-incident DappRadar report revealed that Raised blockchain games and metaverse projects (a) $1.3 billion cumulative in fiscal third quarter.

However, if user engagement is low, what keeps investors coming back for more of the metaverse?

Cointelegraph spoke with Decentraland, DappRadar and prominent Metaverse investor Animoca Brands, to better understand what metaverses are keeping investors coming back.

Robert Hoogendoorn, Head of Content at DappRadar, confirmed, though The sharp drop in both cryptocurrency prices and trading volume In US dollars (USD) for the metaverse, the actual number of trades decreased by only 11%.

“It shows that there is still strong demand,” he says. Hoogendoorn also reiterated that participation in the metaverse goes beyond just logging in. It is too decentralized autonomous organizations (DAO) Activity and development teams leverage open source software for each other.

“It is not a one-way business-to-consumer stream, but a network of interlocking stakeholders, builders, creators, users, investors, regulators, and so on.”

It’s clear the space is still young, said Sam Hamilton, Decentraland’s creative director. He went on to say that it “may be shocking” but the numbers don’t stop anyone from joining in this creative climate.

Hamilton realizes that many dismiss the meaning as nothing more than “pointless entertainment,” but the developers are actually making something much bigger than that.

“When you spend your days building something as massive and impactful as the metaverse, it becomes very difficult to be myopic and just care about the numbers.”

Yat Siu, co-founder and CEO of Animoca Brands, said negative responses to significant technology shifts are not new, but expect to see them transform as the technology itself matures.

Related: Food companies secure brands to enter the metaverse

Siu emphasized that from an operational perspective, the decentralized metaverse is a better business model that facilitates access to capital and offers great opportunities to consumers.

However, from a user’s point of view, he said it’s more important because products and services offer empowerment like never before. Non-fungible ownership introduces new benefits from digital goods and data “to give users a stake and a voice in the products and services they use.”

“Blockchain is not just a technological change but also one that enables social and political change.”

Seo was previously quoted as saying that he believes GameFi will be the preparation point for users in the metaverse.

While some are on Twitter crypto question The value of the metaverse, developers and investors have shown no hesitation in building a digital world. New tools and events are constantly being published To make the metaverse experience more realistic.