Rates of land stories in the metaverse fell by 18% last month from an all-time high seen the month before, according to an index covering 30 of the top digital worlds.
However, digital land still exceeded the rate of Ethereum’s native token ETH when seen over the past year as a whole.
According to data from the metaverse analytics provider Meta Metrics, the ordinary cost of a digital land story fell to USD 8,594 in March, down 18%.
From an all-time high of USD 10,473 taped in February. The recent autumn in cost remains in line with a broad decline in the costs of metaverse-related tokens over the past 6 months.
As of Wednesday, major metaverse symbols such as those released by Decentraland (MANA), and The Sandbox (SAND).
And also Axie Infinity (AXS) were all down by between 55% as well as 65% given that reaching their all-time highs in November last year.
Still, the average price for March remains four times higher than the cost seen a year previously, Meta Metriks’data said.
Amongst the worst-performing digital worlds in regards to land rates in March were Decentraland, The Sandbox.
And the non-fungible token (NFT) game Fluf World (FLUF), saw land rates drop by 49%, 23%, and 44%, respectively.
The losses were seen in the 3 digital globes were only partially balanced out by gains seen in Metroverse (MET) and also NFT Globes (WRLD).
Where land prices rose by 27% as well as 6%, respectively, for the month. Regardless of the depression in land prices in US dollar terms over the previous month.
Possessing land in the metaverse still became a better investment than holding ETH for the year as a whole.
As of the completion of March, metaverse land has actually executed 2.6 times better than ETH for the previous year.
In spite of the dip inland rates as well as the development in ETH prices seen last month, Meta Metrics said.
On Wednesday at 10:17 UTC, ETH stood at USD 3,336, down 5.2% over the past 24 hr as well as 2% in a week, and also up nearly 31% for the past 1 month.
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