I don’t know about you, but I keep on hearing more and more virtual reality commercials while listening to music or watching YouTube videos. With the launch of the new movie Ready Player One, I can’t help but get more excited for the Decentraland Metaverse to officially launch! It’s like a trail of breadcrumbs that lead to us learning about an entirely new Metaverse experience. Keeping an eye out for Morpheus with the Red or Blue Pill option.

Since its March 29th release date, the movie has raked in a whopping $476,077,946 in worldwide gross sales. Statista research (based on PricewaterhouseCoopers research) places the average cost of a movie ticket across the globe at $5.16. This means approximately 92,250,000 people across the globe have seen the VR-based film, not counting duplicates.

We’re at the point where virtual reality is on the brink of going mainstream,with the roll-out of more affordable hardware along with the development of proper market channels being the primary forces holding back mainstream adoption. Right now, higher quality VR hardware is being developed by various companies and, at the same time, the cost to achieve a virtual reality experience for consumers is decreasing.

Looking at Statista’s global Virtual Reality market projections, we can expect the VR software/hardware market to reach between roughly $15.6 billion at medium adoption and $40.4 billion at worldwide adoption by 2020. Knowing the VR market has the potential to grow this large has companies like Google, Samsung, Sony, Oculus, and HTC competing to create superior VR products. This level of competition only works to our advantage, as consumers, because a lower hardware price only enables more of us to undergo the Metaverse experience.

On the other side of the spectrum, we have ultra creative projects like Decentraland who is building a decentralized Metaverse on the Ethereum blockchain which aims to be immutable and owned/governed by the very creators building this, new world, if you will. They launched a Terraform event where they ‘minted’ and sold 70,399 parcels of virtual land worth a whopping 161,000,000 MANA. At the current MANA/USD rate of $0.102131, this is approximately $16,443,091 worth of virtual land that is owned by the Decentraland community and trade-able on Decentraland’s secondary land marketplace here.

The rest of this article is going to dive into the data from the Decentraland virtual land marketplace which was taken from NonFungible.com as the data source.

Here’s a link to the last article on their virtual land marketplace:

The Virtual Land Marketplace —Looking Into The Numbers

Above is the raw data from the Decentraland land marketplace for the period of April 1st-14th that I’ve taken and put into a chart that is easier for us to digest. The month started off strong and has tapered down a bit in comparison to last months figures as the number of market participants grow in these early stages. Since Decentraland land parcels all reside in a unique location within Genesis City, the average price paid per parcel is not the strongest indicator for us to use when valuing an individual parcel of land. The NonFungible.com team will continue rolling out features that make it easier for the community to understand how to read the data of various NFT markets, including Decentraland’s land marketplace.

Above is an image of the data from the start of the marketplace to the end of March and it’s pretty clear there was more activity last month as compared to the figures we see today. The data from the first two weeks also includes a few outliers that may be skewing the marketplace data a bit. There were a few 1,000,000+ MANA land purchases last month.

April 1st — 14th Data Findings

395 transactions

31 parcels sold for 20,000+ MANA — not included this figure were 21 parcels at 19,500–19,999 MANA

— not included this figure were 9 of the 31 went for above 40,000 MANA

went for 3 of the 31 went for above 100,000 MANA

This means that of 395 transactions during this period:

7.8% sold for 20,000+ MANA.

sold for 20,000+ MANA. 2.2% sold for 40,000+ MANA

sold for 40,000+ MANA 0.75% sold for 100,000+ MANA

Parcel above 100,000 MANA:

-31,1 — 199,000 MANA

199,000 MANA 35,49– 100,000 MANA

100,000 MANA 13,-71–145,000 MANA

Last month’s (15-days) Data Findings:

786 transactions

90 parcels sold for 20,000 MANA or more — not included are 11 that went between 19,500–19,999 MANA

sold for not included are that went 15 of the 90 went for 40,000 MANA or more

went for or more 6 of the 90 went for 100,000 MANA or more

This means that of the 786 transactions last months data:

11.45% sold for 20,000+ MANA

sold for 20,000+ MANA 1.9% sold for 40,000+ MANA

sold for 40,000+ MANA 0.76% sold for 100,000+ MANA

Parcels above 100,000 MANA:

49, 38 –150,000 MANA

–150,000 MANA -12, -4 — 295,000 MANA

— 295,000 MANA -12, -5 — 295,000 MANA

— 295,000 MANA 12, -7 –1,250,000 MANA

–1,250,000 MANA 13, -7 — 1,300,000 MANA

— 1,300,000 MANA 22, 2–2,000,000 MANA

If we remove the outliers from last month’s data, the average parcel of land ends up amounting to 14,012 MANA — a lot closer to this month’s average of 13,557 MANA.

The frequency of marketplace activity decreased moving into this 2-week period while the average price per parcel fell, along with the number of parcels selling for significantly higher amounts of MANA. Interestingly, the percentage of all land that sold for 40,000+ MANA and 100,000+ MANA have remained nearly constant between the two periods.

It will be interesting to learn how the data changes and what new trends emerge. Right now, it’s very hard to determine trends, but it’s obvious that the number of transactions has decreased and, with that, the number of parcels going for significant amounts of MANA.

Decentraland’s Native Currency — MANA

Keep in mind that, during this 30-day period of data, Decentraland’s MANA currency fluctuated greatly, as did the overarching cryptocurrency market. MANA’s price was between $0.064–0.096, a 50% fluctuation. This level of volatility can greatly affect any market, but specially one that is solely denominated in that currency, MANA in this case.

It will be interesting to continue monitoring the market data to see what new trends emerge and how we can better understand the health of Decentraland’s land marketplace, along with other NFT-based digital marketplaces.

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This is all so new that our team is working to make the data from these projects more easily accessible for the community so that we can, together, continue understanding how this new virtual/digital market grows and changes along the way. Please share this, like it or share your comments with us below as we begin writing content on the topic!