The Metaverse land market, once a hotbed of excitement and potential fortunes, has experienced a sharp decline in prices, leaving speculators with significant losses. CoinGecko co-founder Bobby Ong’s recent update has revealed the stark reality faced by those who <a href="https://nftandgamefi.com/2021/12/28/is-metaverse-land-rush-fake-and-are-all-metaverses-the-same/" rel="noopener noreferrer nofollow">invested in virtual land</a>.During the exhilarating bull market of 2021 and the first half of 2022, virtual land in leading Metaverse ecosystems was highly sought after, with prices soaring to astronomical heights. Major global brands also joined the frenzy, acquiring substantial portions of Metaverse land.<h2 id="header-0">Virtual Land Languishing</h2>However, fast forward to mid-2023, and the situation has taken a dramatic turn for the worse. Liquidating virtual land has become an arduous task, with prices plummeting across the board.The decline in prices is evident in various Metaverse projects. Otherdeeds by Otherside, a project launched by Bored Ape Yacht Club (BAYC) studio Yuga Labs, has seen a staggering 78% slump in prices since its peak. Decentraland and The Sandbox have suffered declines of 88% and 90% respectively, while smaller projects like Somnium and Voxels have experienced an even more devastating drop of 94%.Read the full article: <a href="https://nftandgamefi.com/2023/05/27/metaverse-virtual-land-barons-down-bad-2023/" rel="noopener noreferrer nofollow">Metaverse Virtual Land Barons Experience Hardship as Prices Continue to Decline in 2023</a>

Metaverse Virtual Land Barons Experience Hardship as Prices Continue to Decline in 2023

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