- Decentraland has launched a four-day period Decentraland Metaverse Music Festival 2022 on November 10th.
- Since then, user activity on metaverse-based projects has increased.
Described as the “first-ever virtual world” where users can purchase parcels of land and wearables as NFTs, Decentraland [MANA] has kickstarted the Decentraland Metaverse Music Festival 2022 on November 10th. The 4-day virtual event will see his 200+ artists from around the world perform on his 15+ unique virtual stages.
Since the festival’s inception, Metaverse-based projects have received a lot of attention. Dapp Radar clearly.
Decentraland’s unique active wallets have increased by 42% in the last 24 hours, according to DappRadar. This increase brings the number of active wallets in the project to 959.
In addition to this, the number of completed transactions within Decentraland in the last 24 hours totaled 6,780, an increase of over 100% within that window period.
As the number of transactions increased, so did the volume of sales of metaverse-based projects. According to DappRadar data, sales totaled $6,450 in the last 24 hours, growing 100%. In addition, his total assets within Decentraland increased by 12%. As of this writing, this has him up to $23.18 million.
In addition to the surge in activity on Decentraland since the start of the Metaverse Music Festival, sales of Decentraland wearable NFTs have also surged.
According to the project white paperDecentraland Wearables are various items of clothing, accessories, and bodily features that can be used to customize the appearance of your Decentraland avatar.
The surge in wearable sales over the last 24 hours was attributed to the fact that music festival attendees could earn them by attending the event. According to data from NFT GoDecentraland Wearables NFT lowest price increased by 200% in the last 24 hours.
In addition to this, data from NFTGo shows that its revenue and market capitalization surged 106% and 14%, respectively, over the past 24 hours.
MANA has its own ideas
While Decentraland’s virtual worlds and NFTs have grown in the last 24 hours, its ecosystem token, MANA, has been plagued with negative sentiment.
The price has increased by 8% in the last 24 hours, coin market capitalization It revealed that the asset’s trading volume fell by 31% over the same period.
This means that holders are not convinced of significant price increases in the short term.Per data from on-chain analytics platform santimento, many owners were at a loss at press time depending on the MVRV ratio. Also, the weighted sentiment is -0.118, which means that investors have a negative sentiment towards MANA.