Coin Gabbar Token

<h2 id="header-0">After tremendous growth in 2021, trading volume for virtual land in the metaverse has dropped in tandem with the overall crypto market price collapse.</h2>Indeed, virtual trading volume tracking sales for 18 <a href="https://www.coingabbar.com/en/crypto-blogs-english/complete-guide-to-buying-virtual-real-estate-in-metaverse" rel="noopener noreferrer nofollow">metaverse virtual land</a> projects fell by over 98% from their peak on September 12, 2022. According to a report published on September 21, the volume peaked in November 2021 at slightly over $8 million.Notably, the drop in trade volume comes on the heels of the metaverse&#39;s boom, which was fueled by companies such as Facebook&#39;s parent company Meta. However, given the continuous meltdown in the broader <a href="https://www.coingabbar.com/en/cryptocurrency" rel="noopener noreferrer nofollow">crypto market</a> as well as the overall economy, the decreased volume should not be surprising.Metaverse virtual land initial spikeIt&#39;s worth noting that the metaverse virtual land was touted as the next great thing. As a result, the concept sparked a surge in interest, sparking a rush to buy prime lands that resembled real-life real estate.Most individuals were also interested in the metaverse, hoping to benefit from the virtual world. It enables them to play games, exchange <a href="https://www.coingabbar.com/en/crypto-dictionary/digital-asset" rel="noopener noreferrer nofollow">digital assets</a>, and buy and sell real-world items using cryptocurrencies.Metaverse sustainability in questionElsewhere, the drop in trading volume has caused some market participants to question the general value of virtual land. Some critics argue that land is oversupplied and hence no longer a rare resource that drives increased demand.However, if the crypto market rebounds and new firms enter the field, interest in the metaverse may rise again. For example, in June of this year, Meta, Microsoft, and other tech giants pledged to work toward the creation of an open and interoperable <a href="https://www.coingabbar.com/en/crypto-dictionary/metaverse" rel="noopener noreferrer nofollow">metaverse</a>.Despite the falling trading volume, interest in the metaverse appears to be unaffected, with several worldwide businesses and individuals filing <a href="https://www.coingabbar.com/en/crypto-currency-news-english/trademark-application-cryptocurrency-nft-metaverse-surge" rel="noopener noreferrer nofollow">trademark applications</a>. As CoinGabbar earlier reported, approximately 4,000 trademarks related to the metaverse had been filed in the US as of September 6. Overall, businesses are planning <a href="https://www.coingabbar.com/en/crypto-blogs-english/key-technologies-power-metaverse" rel="noopener noreferrer nofollow">metaverse experiences</a> that are similar to everyday activities.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/shiba-inu-shib-rally-coming-soon-important-eternity-update" rel="noopener noreferrer nofollow">Shiba Inu (SHIB) Rally Coming Up Soon: Important Eternity Update</a>

Metaverse Land Trading Volume Drops 98 Percent

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