
Furthermore, blockchain data doesn’t always paint the entire picture.”īut doing a census of the metaverse is difficult, and Decentraland’s official numbers just don’t add up to other publicly available data, especially as they don’t account for bots or idle users.ĭecentraland’s numbers from Catalyst Monitor, a tool for tracking the load on each of its servers which it calls catalysts, show there are 509 active users as of Tuesday afternoon Asia time. “However, this data doesn’t always mean the same for each dapp. “It’s important to note that data on the blockchain is unchangeable, and therefore it doesn’t lie,” DappRadar said in a blog post. When CoinDesk reported that were 38 users across Decentraland’s $1.1 billion platform, citing DappRadar’s numbers, there was a considerable amount of pushback from Decentraland, which claimed that there were over 55,000 thousand monthly active users on its platform. Read More: How Do You Value Metaverse Projects? We Tried.DappRadar’s data shows that the largest number of active users came in late September, when the platform saw just over 1,300 online at once.

“In my opinion, we're leaning towards a lack of product-market fit on that side … irrespective of their valuation,” said Fleyshman. Set to run from October 19 to 23, the turnout of virtual skaters may be larger than the users purchasing Hawk’s NFTs in SAND.
DECENTRALAND DAILY ACTIVE USERS PRO
In July, skater Tony Hawk announced his virtual skatepark paired with an avatar collection in The Sandbox, which aims to bring fans from his $1.4 billion “Tony Hawk Pro Skater” video game to a new, more interactive platform. “Anyone telling you that there's a metaverse today that has worked is lying through their teeth,” said Fleyshman.īeverage company Snapple’s pop-up bodega in Decentraland last August sparked questions about mainstream use cases for promotional content in the metaverse. Sasha Fleyshman, portfolio manager at digital asset investment firm Arca, told CoinDesk that metaverse platforms will be much more valuable to users when they actually operate as intended. It also likely means that these spaces are not where people are making transactions such as buying non-fungible tokens (NFT).Ī developer might defend the low daily stats with the familiar phrase, “don’t hate the player, hate the game ” but it seems it’s not just one quiet day for the two metaverse platforms.Īlthough the metaverse may be enough of a buzzword for companies to rebrand their names around its concept, mass adoption will likely still take a while.

This means that DappRadar’s compilation of daily active users doesn’t account for people who log in and mosey around a metaverse platform or drop in briefly for an event, such as a virtual fashion week.

For example, logging onto The Sandbox or Decentraland to make a purchase with SAND or MANA, each platform’s respective native utility token, is counted as an “active use.” According to data from DappRadar, the Ethereum-based virtual world Decentraland had 38 active users in the past 24 hours, while competitor The Sandbox boasted 522 active users in that same time.Īn active user, according to DappRadar, is defined as a unique wallet address’ interaction with the platform’s smart contract. Looking at two of the biggest companies with over $1 billion valuations, the answer is surprising: Not much, or at least not enough to bring users back every day. What’s going on in the metaverse these days, you might ask.
