The year 2021 has definitely become the year of the Metaverse. Despite the relatively weak performance of other altcoins, the major Metaverse projects have grabbed an average of 400 percent returns.
The big winners in this arena are ApeCoin, Sandbox, Axie Infinity and STEPN. Metaverse tokens are coins that you can use in a virtual world for transactions, to buy land and vote on the future of the game world.
The only token type that has achieved some good performance in addition to the Metaverse tokens are the exchange tokens. They have achieved a return of 6 percent over the past 365 days. Metaverse tokens are listed according to a Kraken report at a plus of 395 percent. Compare that to Bitcoin (-13 percent), Ethereum (-25 percent) and DeFi projects (-72 percent) and you immediately understand how special that performance is in this market.
Also in 2022, the Metaverse tokens and the NFTs in the Metaverse games will continue to be extremely popular. Despite the ailing prices, the user counts fairly consistent with 1 million users per day. For the past May, the number of daily users for the Metaverse games has remained the same, but that’s pretty impressive when you hear that the NFT volume dropped by 87.1 percent in May.
Last 30 days less impressive
Measured over the past year, the Metaverse tokens are doing great, but in the past month they could not escape the price malaise. With an average minus of 42 percent, they were even among the least performing categories last month. So it’s not just a party in the Metaverse. However, the stable user numbers give hope that this is a temporary decrease.
Despite the short-term price action of the Metaverse tokens being moderate, the big money continues to flow into the industry. In the first quarter, for example, there is $2.5 billion in capital raised for blockchain games and Metaverse projects. If the Metaverse projects can maintain this pace, the industry will pull $10 billion in capital out of the market in one year.