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October 17, 2022 The Daily Hodl

DappRadar explains why it counted less than 40 active users on Decentraland

October 13, 2022 Coin Telegraph

DappRadar only tracks users directly interacting with blockchain, a new blog post explains. For example, Axie Infinity’s daily user count is over 100,000, but DappRadar measures it only at 20,000.

Crypto Twitter was shocked by reports claiming a $1.2 billion metaverse ecosystem like Decentraland has less than 40 daily active users recently. The data, courtesy of decentralized finance (DeFi) analytic firm DappRadar, created quite a buzz among the crypto community, with questions being raised over the future of Web3.

Decentraland was quick to refute those metrics and claimed that to get a better insight into the platform’s user activity; one should refer to the dashboard on the website. The metaverse platform noted that it accounted for 1,074 users interacting with smart contracts in September and a total of 56,697 monthly logged-in users.

Let's have a look at some of September's data:

56,697 MAU
1,074 Users interacting with smart contracts
1,732 minted Emotes
6,315 sold Wearables
300 Creators received royalties
161 created Community Events
148 DAO Proposals
— Decentraland (@decentraland) October 7, 2022

DappRadar since clarified how the team reached that number and noted that it's currently working with the metaverse platform to offer a more accurate data set. The data analytic firm said that it tracks the number of Unique Active Wallets (UAW), the number of transactions and the volume of those transactions across different decentralized applications (DApps).

DappRadar noted that its user data tool only tracks users’ interaction with a blockchain, usually in the case of transactions, but often non-blockchain-based activities go untracked. For example, Axie Infinity's daily active user count is well over 100,000, while DappRadar measures only 20,000 UAW per day through on-chain data.

The DeFi analytic firm acknowledged that the metaverse is a fast-growing ecosystem, and it solely depend on developer data for calculations. The firm is now working with Decentrland developers to offer a better insight into daily active users on the platform. The official blog post from DappRadar read:

“The key metrics DappRadar provides are based on smart contracts, which are mainly submitted by DApp developers. The Decentraland team is currently updating their list of smart contracts, and we’re therefore recalculating their metrics.”

While DappRadar user data might not be accurate, there is a certain decline in interest around Web3 ecosystems, including the much-hyped metaverse one. Even the most thriving projects are facing unprecedented pressures in the current bear market.

Metaverse platforms refute ‘misinformation’ about daily active users

October 11, 2022 Coin Telegraph

Coin Telegraph

User data from DappRadar consists of metaverse users who have also made an in-game purchase with the project's native token, but the Decentraland and Sandbox projects disagree with that criteria.

Ethereum (ETH) blockchain-based Metaverse projects Decentraland (MANA) and Sandbox (SAND) have hit back at reports suggesting low daily user activity on platforms, arguing a “misinformed” metric was used to measure each of the platforms' Daily Active Users (DAU).

The controversy appears to have come from data originating from DappRadar, with observers suggesting the Decentraland metaverse sees 30 Daily Active Users despite having over $1.2 billion in market cap.

Decentraland ( $MANA ) has 30 Daily Active Users

and a $1.2 Billion Market Cap pic.twitter.com/u4MBNsWvwk
— SHAKE (@0x_shake) October 6, 2022

However, Decentraland said in an Oct. 8 tweet that “some websites are tracking only specific smart contract transactions but reporting them as daily active users […] which is inaccurate.”

Sandbox CEO Arthur Madrid tweeted on Oct. 10 that “on chain transactions does not mean Users” and that nonfungible token (NFT) owners “invest in an asset that will grow in value over time based Utilities.”

In its tweet, Decentraland said “better data” can be found at DCL Metrics, a data aggregator custom-built for Decentraland, which measures DAUs by the number of “people who login and then move out of a parcel.”

This distinction is significant, as Decentraland’s September data shows 56,700 Monthly Active Users but only 1,074, or 1.89% of those users actually interacted with Decentraland’s smart contracts.

Let's have a look at some of September's data:

56,697 MAU
1,074 Users interacting with smart contracts
1,732 minted Emotes
6,315 sold Wearables
300 Creators received royalties
161 created Community Events
148 DAO Proposals
— Decentraland (@decentraland) October 7, 2022

Similarly, Sandbox refuted data suggesting its platform has a low number of DAUs, stating on Twitter that it has 201,000 Monthly Active Users.

But while this shows blockchain data should never be interpreted without context, it appears as though user experience and engagement are the biggest cause for concern according to a recent Reddit thread.

The thread saw one poster refer to Decentraland as “Desertedland,” while another poster said the popular Metaverse game had become a “ghost town.”

The controversy comes as even the most legitimate Metaverse projects face unprecedented pressures in the current bear market — which has caused a steep drop in token prices.

Decentraland’s MANA is currently priced at $0.65, down 88.8% from its all-time high (ATH) of $5.85 with a market cap of $1.43 billion.

Meanwhile Sandbox’s SAND is priced at $0.78, down 90.6% from its ATH of $8.40, with a market cap of $2.36 billion. Both MANA and SAND are down more than 5% over the last 24 hours.

Decentraland’s MANA and Shiba uptake surges year-on-year — eToro

October 7, 2022 Coin Telegraph

Coin Telegraph

eToro stated that MANA and SHIB saw the biggest surge in hodlers in Q3 2022, posting increases of 437% and 269% apiece compared to Q3 2021.

Increasing interest in the Metaverse has been seen as a reason for Decentraland native token MANA and memecoin Shiba Inu's (SHIB's) outpaced growth on retail trading platform eToro over the past 12 months.

In an Oct. 7 report shared with Cointelegraph, eToro stated that MANA and SHIB saw the biggest year-on-year surge in hodlers in the most recent quarter, rising 437% and 269% apiece compared to Q3 2021.

Other notable hodler increases on eToro platform included Enjin (ENJ), Polygon (MATIC), and Basic Attention Token (BAT) with increases 229%, 107% and 107%, respectively.

eToro crypto market analyst Simon Peters said that rise of MANA in particular suggests the Metaverse has become a key theme of the crypto market this year despite the bear market:

“The Metaverse has been a major new frontier and that is reflected in the exponential growth in open positions of MANA. Although crypto markets have been difficult in recent months, the fastest risers indicate real interest in some of the most innovative projects in the past year.”

It is also worth noting that while the beloved SHIB is primarily a memecoin, the dog-inspired cryptocurrency gained a new use-case in May 2022, allowing hodlers to use the crypto to purchase land in the Shiba metaverse.

The crypto is also involved in an upcoming mobile NFT game called Shiba Eternity, which will be available on both the Apple App Store and the Google Play Store, and will be compatible with its Shiboshi NFTs.

However, while the two Metaverse-linked tokens saw gains, eToro’s report noted that the top 10 most-held assets on the platform remain unchanged over the last 12 months.

Bitcoin (BTC), Cardano (ADA) and Ether (ETH) take the top three spots, while SHIB is ranked sixth and MANA is ranked tenth.

The uptick in Decentraland’s MANA token comes despite Decentraland catalyst nodes monitor on Github showing only 467 people online using the platform at the time of writing, while people in the crypto community on Twitter noted there were around 500 yesterday also.

The figures seem low considering MANA has a market cap of $1.2 billion.

Just fyi dappradar tracks the interactions with DCL contracts not the users online (around ~500 atm)https://t.co/9lbpALw0oC https://t.co/6AJPJiex3y
— jin (@dankvr) October 6, 2022

Data from DCL Metrics lists the number of unique visitors to Decentraland at 7,871 as of Oct. 6, which is the highest number so far this month. However this figure pales in comparison to the 18,000 daily users Decentraland co-founder Ari Meilich reported back in December 2021.

MANA is currently the forty-sixth largest crypto asset in terms of market cap according to CoinGecko, and Its price is down 88.1% to $0.69 since its all time high of $5.85 on Nov. 25 2021. Over the past 24 hours, $115.3 million worth of MANA has changed hands.

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Spatial digital art exhibitions to level up metaverse experiences

August 24, 2022 Coin Telegraph

Art

Art curators are “unframing” contemporary art to create interactive experiences for metaverse goers that more closely emulate IRL experiences.

In Decentraland’s third annual Metaverse Art Week held on Aug. 24–28, curators turned to new ways to utilize digital space to bring more interactive and true-to-life experiences of art.

The metaverse world modeled its latest virtual festival after the real-life Biennale art event, which utilizes public space to display art. Visitors to the in-real-life (IRL) festival can walk around spacious pavilions and working parts of the city to engage with artists and brands outside of traditional gallery walls.

Giovanna Graziosi Casimiro, the events and community producer for Decentraland, commented to Cointelegraph on this year’s design concept.

“The core value of this year's art week is to unframe the art in spatial experiences. For that, what we did is to repurpose public space in Decentraland.”

In the digital world, art galleries and exhibitions aren’t new. Digital nonfungible token (NFT) art galleries have been implemented by companies like Spatial, and traditional art houses like Sotheby’s are active in hosting NFT art events.

Sculpture exhibition from visual artist Nick Knight in Art Plaza in Decentraland Metaverse Art Week Source: Decentraland

In Decentraland alone, there are six major art galleries hosted by big-name NFT marketplaces such as Rarible, SuperRare and KnownOrigin.

What makes this event different is the way in which visitors interact with the art. Decentraland expects sizable engagement based on metrics from past events such as Metaverse Fashion Week, which saw 108,000 unique visitors, according to the foundation.

The quality of metaverse events and avatars is a major discussion in the industry after feedback regarding quality in events like Metaverse Fashion Week. Mark Zuckerberg of Meta was recently met with criticism over the quality of avatars available in its new digital experiences.

Casimiro said this is a top priority for the Decentraland team in developing these events:

“Our team really worked hard in bringing new mechanics to Decentraland so that a lot of those art installations have an unedited interaction.”

This can be seen in action through Opensea's infinite gallery, where users can stand in an interactive hall of endless moving art. According to the team, this is the first for such a mechanic to be employed in its metaverse and will be available for the community to use it in the repository.

As engaging as digital art design can be, for new users, accessibility is still an issue. Across the industry experts highlight education as a key factor to break down barriers to entry.

Casimiro told Cointelegraph that creating accessibility and educational components to digital events is critical to keep users engaged.

“In the long term we need to always come out of the metaverse with actual knowledge. I am a big believer that we need to use the metaverse as an instrument of communicating knowledge and making it accessible to people.”

Interactive art galleries, poetry readings and digital performances are the next frontier in metaverse engagement. In July, metaverse infrastructure company Condense released new technology to live stream IRL events into the digital world.

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August 23, 2022 The Daily Hodl

Nifty News: NFL All Day opens to the public, Boss Beauties go to Hollywood and more…

August 19, 2022 Coin Telegraph

Boss Beauties

Oscar-winning actor Anthony Hopkins is jumping on the NFT train, while lovers of fine art are set to enjoy a fancy exhibition event in Decentraland next week.

NFL fans at large will now be able to get their hands on digital keepsakes of their favorite football stars after Dapper Labs’ NFL All Day NFT finally opened to the public after a seven-month-long closed beta.

On Aug. 18, The National Football League (NFL), the NFL Players Association (NFLPA), and Dapper officially launched the project and announced the first public NFT drop, a pack of four NFTs dubbed “Headliner” consisting of four different new player moments.

Users will have the chance to get their hands on NFTs depicting popular players such as Tom Brady, Trevor Lawrence, Javonte Williams, and Jalen Ramsey. There will be a total of 22,500 packs on sale for $59 a pop.

The NFTs come in different rarity tiers of common, rare and legendary, with just 187 packs containing a highly sought after legendary NFT.

Welcome to #NFLALLDAY ‼️

Own the best Moments, featuring exclusive digital video highlights from your favorite players & teams.

Our first public Pack Drop is Friday! Sign up and get a limited edition NFL collectible, starring @PatrickMahomes. ➡️ https://t.co/sol88uYqUS pic.twitter.com/xJKu8SoZSC
— NFL ALL DAY (@NFLALLDAY) August 18, 2022

Much like Dapper’s first officially licensed NBA Top Shot project, NFL All Day offers tokenized player and team collectibles depicting various in-game video highlights known as “moments”. There are also GameFi elements added to the experience via avenues such as collector challenges to earn rewards in NFTs, game tickets, VIP experiences, Jersey’s etc.

The project has been in closed beta since February, and has generated more than $37 million worth of sales to date according to data from CryptoSlam.

“Last year’s soft launch brought in a surge of early adopters who began collecting video highlight NFTs of NFL plays and we plan to grow the number of users significantly with the official launch of the platform,” noted Joe Ruggiero, the senior vice president of consumer products at the NFL.

NFT start up pens Hollywood deal

NFT start-up Boss Beauties has penned a representation deal with major Hollywood talent agency WME.

As part of the deal, WME will rep the company across the entertainment sector as it works to secure Boss Beauties intellectual licensing (IP) deals in film, Wb3, gaming, events, brand partnerships etc.

The Boss Beauties project consists of 10,000 unique tokenized digital art portraits depicting female avatars with various career choices such as CEOs, pilots, doctors and astronauts. The collection reportedly sold out in 90 mins after launch in September.

JUST IN! ⚡️

Boss Beauties signs with world renowned @WME to push BB and Super BB out into film, TV, digital and gaming. Exclusive story on @Variety https://t.co/VmLf2ydH3O pic.twitter.com/krewii3wDB
— Boss Beauties (@BossBeautiesNFT) August 17, 2022

The project has generated more than $48.3 million worth of sales to date, with a portion of the proceeds from primary and secondary sales going towards empowering women via mentorships and scholarships.

CryptoPunks creators Larva Labs signed a similar deal with competing agency UTA back in September.

Metaverse Art Week 2022

Decentraland, one of the biggest Metaverse platforms in the blockchain sector, is set to host the third-annual Metaverse Art Week event in its virtual world between Aug. 24 and Aug. 28.

The event will see a wide array of curated NFT art being featured from big names such as Sotheby’s, OpenSea, Artnet, while there will also scheduled panel discussions, a virtual outdoor sculpture garden and a 3D interactive art wall.

“The third annual Metaverse Art Week will explore how the human spirit is hardwired to elicit an emotional response when presented with art inspired by mathematical designs present in nature, and how metaverse technology is pushing the boundaries of programmatic art and redefining what an immersive experience is,” the Decentraland team wrote in an announcement shared with Cointelegraph.

From Golden Globes to NFTs: Sir Anthony Hopkins

Renowned 84-year-old actor Sir Anthony Hopkins has jumped aboard the NFT gravy train by announcing The Eternal Collection, a set of 10 digitally animated NFT pieces depicting Hopkins as various Jungian psychological archetypes.

The various 1-of-1 NFT artwork pieces feature realistic digital renderings of Hopkins’ face as the Hero, the Rebel, the Magician, the Sage, the Ruler, the Explorer, the Lover, the Creator, the Giver, and the Jester. The auctions are set to go live on OpenSea on September 16. The Face of each art piece will also be used to create 100 profile picture NFTs for each of the 10 pieces, equating to 1,010 NFTs in total. The project is in collaboration with Web3 media company Orange Comet.

*The Eternal Anthony Hopkins: Orange Comet*

Other Nifty News:

The Australian Football League (AFL)’s first limited edition drop of NFTs sold out in just under 12 hours on Wednesday. The project is called AFL Mint, and follows a similar format to NBA Top Shot and NFL All Day. The first “Ripper Skipper 2022” drop consisted of 3,800 packs which generated more than $130,000 in revenue for AFL Mint.

Solana-based wallet provider Phantom launched a new burn feature on Thursday which enables users to remove spam NFTs sent by scammers.

Decentraland

NFT start up pens Hollywood deal

Metaverse Art Week 2022

From Golden Globes to NFTs: Sir Anthony Hopkins

Other Nifty News:

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