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Knowledge

Is Decentraland Failing When Daily Active Users Are Severely Reduced?

October 9, 2022 - Around 3 mins mins to read
Dapp Radar data appears to indicate that Decentraland is failing. Having 39 daily active users (DAUs) is worrisome for a firm with a worth of more than $1 billion.
Is Decentraland Failing When Daily Active Users Are Severely Reduced?

But it’s important to put this into context. First, if an active daily user conducts a transaction within Decentraland, the Dapp Radar site follows him or her. But we also know that a large number of individuals may visit the metaverse but transact elsewhere.

After all, there are a plethora of third-party platforms dealing with Decentraland NFTs. It would make sense if Dapp Radar monitored all of them.

The platform also believed that utilizing DAU as the sole metric of activity was insufficient. There are still some crucial parameters to keep an eye on. For example, the platform revealed that 1732 emotes were coined in September.

Is Decentraland Failing When Daily Active Users Are Severely Reduced?

Furthermore, 6,315 Decentraland wearables were sold in the same month, and over 300 content providers got royalties.

In addition, Decentraland witnessed over 161 community-led events and 148 DAO proposals in the same month.

The meta considers this data to be a key indicator of how engaged the platform is. The company also encouraged customers who want to know the genuine stats to follow DCL Metrics for updates.

In addition, according to a statement issued by Decentraland’s Creative Director, the site has an average of 8000 users. People that engage with the metaverse passively are included in the figure. This is not a bad statistic, and it helps to explain the increased interest in these platforms.

Furthermore, according to Dapp Radar, Decentraland is not the only platform experiencing a drop in DAUs. The Sandbox has also had the same old story.

Most specialists in the metaverse realm have long assumed that we haven’t seen anything yet in this field. In reality, while Decentraland and The Sandbox are all metaverse platforms, they lack the features that we all know metaverse platforms can provide.

Is Decentraland Failing When Daily Active Users Are Severely Reduced?

Of course, the industry is still in its infancy. There are several ambitious metaverse initiatives in the works right now, and the market will most certainly mature over time.

According to Bloomberg, the metaverse sector would be valued at $820 billion by 2030. So the industry investment will continue to rise as technology advances to provide more immersive experiences for users.

While Decentraland and, by extension, The Sandbox are already pioneers in this sector, they may not be the largest meta platforms in the next decade. Overall, they are crypto unicorns right now. This implies that they are, after all, doing something right.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

daily active user

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Dau

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the sandbox

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.