Metaverse project Decentraland, a sandbox environment that allows users to buy and sell virtual real estate, isn't exactly teeming with people.
Despite billions of dollars in valuations, companies betting on a metaverse future simply haven't made much headway., the Ethereum-based world Decentraland only had 38 "active users" over a period of 24 hours — a confoundingly low number, especially considering the company has a market cap of a whopping $1.2 billion.
Decentraland pushed back, though, saying that "active users" are defined as unique blockchain wallet addresses that interact with its system. As"DappRadar doesn't track our users, only people interacting with our contracts," Decentraland's creative director Sam Hamilton toldOf course, even 8,000 users on a given day is dismal for something that's supposed to be the future of online communities.
In short, it's a perfect example of the kind of massive disparity between market value and actual users that has been plaguing the Web3 world for years, and could also be indicative of a in appetite for virtual real estate and other blockchain-related assets, including cryptocurrencies and NFTs.Decentraland's Twitter account also attempted to do some damage control, writing that the platform saw "All told, though, none of these numbers really amount to much, given the amount of money being poured into metaverse platforms like Decentraland.
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