Decentraland Metaverse User Count Drops To All-Time Low

MetaversePlanet October 12, 2022Last Updated: August 14, 2024

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The Decentraland Metaverse game has experienced a significant decline in the number of active users, reaching an all-time low.

These findings are derived from data provided by DappRadar, a reputable Web3 data monitoring platform.

Moreover, the statistics reveal a deeply concerning situation, highlighting the substantial lack of recent activity in the Metaverse domain.

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Decentraland Has A Big Drop In The Number Of Active Users!

DappRadar’s tracking statistics have brought to light a striking revelation, indicating a mere 42 active users within the last 24 hours in Decentraland’s Metaverse game. However, Decentraland swiftly responded to these figures, dismissing them as inaccurate. Instead, they assert that their own data and statistics show a considerably higher number of users.

The data provided by DappRadar has sent shockwaves through the community and raised concerns among potential investors in the Decentraland Metaverse. This Metaverse company, which combines NFTs, virtual land, and Metaverse technology, boasts a valuation exceeding $1 billion.

Yet, these valuations are poised to undergo significant changes if the DappRadar statistics are indeed accurate. It is particularly crucial because active users frequently engage in in-game transactions using Decentraland’s cryptocurrency, MANA, and the low user count implies a scarcity of such transactions.

Interestingly, Decentraland’s presence on Reddit appears notably quiet, with minimal engagement. A post that referred to the DappRadar figures garnered just ten interactions in a day, and surprisingly, half of these interactions corroborated the perception of low active user statistics in Decentraland.

Decentraland has vehemently refuted these claims of low user numbers. In a tweet addressing the controversy surrounding the daily active users (DAUs) count, Decentraland stated, “There has recently been a great deal of misinformation about Decentraland’s active user numbers. Some websites track specific smart contract transactions and mistakenly report them as DAUs, which results in inaccurate data.”

Data Will Exacerbate The Problem!

Metaverse projects have been gaining momentum in recent times, with companies delving deeper into Web3 and Metaverse research.

However, the latest data may give these companies reason to pause. The primary factor causing this hesitation is the market’s instability, coupled with reports indicating a decline in the number of users. It’s worth noting that these reports have been contested, and the accuracy of these claims will become clearer in the coming months.

Additionally, there are observable downward trends in the NFT space. Nevertheless, initiatives within this domain are seeing substantial growth compared to the data.

These initiatives could potentially experience significant price increases over the long term, which is why investors continue to explore NFT technology. Despite market fluctuations, it remains crucial for the sector’s future that research and development efforts persist and expand.