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Famous Metaverse Property Investments Witness Huge Losses, Says a Report

ShahZaib Ahmed



a man wearing AR glasses drowned in the Metaverse world

The prominent Property Investments in the metaverse sector are going through enormous losses. This is being witnessed sometime after the peak witnessed by the respective investments back in the last year.  Nonetheless, the current decline in the price is nearly ninety percent. The well-known crypto data aggregator company CoinGecko has recently published a report in this respect.

Land Properties in the Metaverse Sector Witness Huge Price Downfalls

The company has disclosed that famous properties within the metaverse sector, taking into account Otherdeeds, Voxels, Somnium, Decentrland, and The Sandbox, have witnessed great price losses in recent months. The period covered in the study starts from the 1st of January last year to the 24th of May this year. The top expensive property at that time was Otherside which was developed by Otherdeeds.

The respective property was sold for up to 5 Ether. Nonetheless, the current price of the same property is just 1.09 ETH tokens at the current time. The respective price shows a 78.2% decrease. On the other hand, Decetraland and The Sandbox-based properties additionally witnessed price decreases. The former’s properties have dipped by approximately 87.88% while the latter’s price has lowered by almost 89.76%.

CoinGecko brought to the front that the most cost-effective land properties within the metaverse world could be seen in Voxels. The platform sells properties for nearly 0.16 ETH tokens at present. The virtual properties of Voxels saw a 93.8% drop in value. Irrespective of the huge decline in prices, the platform of Voxels is still optimistic to see a comeback in the coming time.

The company stated that it is making several advancements to carry out a comeback. In addition to this, the platform has expressed the determination to keep on building its ecosystem for further growth. The giant players within the tech world, as well as the prominent economies, are consistently examining the entire capabilities of the metaverse sector via diverse initiatives and investments.

Tech Giant Apple to Introduce a Mixed-Reality Headset

Apple, the tech giant responsible for developing iPhone, will shortly introduce a mixed-reality headset. The respective headset could foster interest in the metaverse space for another time. In this regard, several discussions are being done on the likely spike within the space of metaverse and cryptocurrency. Based on such speculations many people are continuously investing in crypto and the metaverse worlds.

Josh Gilbert, a well-known market analyst providing services at eToro has also remarked on the above-mentioned headset. Gilbert mentioned that the respective headset has the potential to enhance the market prices in line with the track record of Apple as it offers high-quality products that revolutionize the market. As mentioned in a report provided by Mark Gurhman of Apple, the latest headset is going to be released on the market on the 5th of the coming month.

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