This Metaverse Project Has Few Monthly Users And Land Value Decreased By Over 94%


Metaverse projects tend to attract tremendous attention during the initial phase. Unfortunately, maintaining that momentum is always problematic, resulting in collapsing floor prices and interest. NFT Worlds is a victim, as its non-fungible assets currently trade over 94% below their all-time high.

Metaverse Entrant NFT Worlds

Any project providing access to virtual land in the metaverse will excite people. These digital plots are in high demand and give owners carte blanche on how to use them. Many will use it to build a house or other property, displaying their NFT collection. Others will use it for native projects to establish a virtual “HQ.” The possibilities are endless, but no two metaverses are alike. 

NFT Worlds has always positioned itself as the most capable & flexible metaverse platform. Unfortunately, it is a very ambitious label and one that proves too complicated to deliver. Like many other NFT projects, NFT Worlds has seen a tremendous decrease in pricing, activity, and overall interest. That doesn’t mean its virtual land is worthless, but there isn’t much demand for these assets. 

Per DAppRadar, NFT Worlds has seen 235 users in the past month. That is a fresh 28.57% decline compared to the previous months. Moreover, its transaction count is down to 306 over 30 days, another 31.2% decrease. Metaverse ventures will only succeed if they can attract AND retain users. That latter aspect is very complex and requires a long-term vision. 

The declining appeal of NFT Worlds is a tad surprising. The project is a limitless world and is fully Minecraft-compatible. Given the success of Minecraft, one would expect these virtual land plots to do rather well. Unfortunately, it is one of many failing metaverse projects today.

Steep All-time High Remains Elusive

One intriguing aspect of NFT Worlds is how its metaverse land plots once traded for over 12 ETH. More specifically, the asset has an all-time high of 12.16 ETH, putting it well ahead of other projects. But, unfortunately, those who bought at that price – or above 1 ETH – must wait a bit longer to break even. 

The current price floor for NFT Worlds’ assets is between 0.71 ETH and 0.85 ETH. It is still a good value compared to many other non-fungible tokens, but a problematic situation for long-term holders. Even so, the collection has generated nearly 52,300 ETH in cumulative volume. That represents well over $69 million. 

Social Sentiment Sours Quickly

One may think picking up metaverse land in NFT Worlds is a bargain at today’s prices. That assessment may be correct, although the project’s community has a different opinion. The past month saw a 25.6% decline in social mentions, despite a 10.7% gain in social contributors. It seems people aren’t willing to give up on the project yet, although that may be a matter of time. 

For those who remain hopeful, the 39% decline in bullish sentiment will be rather painful. In addition, the bearish sentiment increased by almost 59% in the past month. That may be due to overarching bearish market conditions. However, one cannot deny how NFT Worlds has fallen from grace and struggles to find new support levels. 

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