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Metaverse Land Prices 2023 vs 2022

4.5
| by
Shaun Paul Lee
-

How Much is Land in the Metaverse?

As of May 24, 2023, metaverse lands cost between 0.37 to 1.09 ETH (approximately $666.3 to $1.962.8), with prices varying across projects.  

The most expensive metaverse land is Otherdeeds by Otherside, at 1.09 ETH. It is a project by Yuga Labs, the studio behind the infamous Bored Ape Yacht Club (BAYC) NFT project. This is followed by Decentraland, which currently trades for 0.64 ETH.

How Much is the Cheapest Land in the Metaverse?

As of May 24, 2023, the cheapest land in the metaverse can be found in Voxels for 0.16 ETH. 

Formerly known as Cryptovoxels, the collection consists of 7,930 parcels of land with various traits, ranging from size to location. This is followed by Somnium Space, which trades for 0.37 ETH, and The Sandbox at 0.43 ETH. 

How Much did Metaverse Lands Cost, At the Peak?

At the peak of the NFT bull market, metaverse lands cost up to 7.50 ETH. This was the floor price of Otherdeeds, which traded at 7.50 ETH on May 1, 2022.

The second most expensive collection was Somnium, which traded at 6.05 ETH at the start of 2022 for a piece of virtual land. Decentraland had the third most expensive collection in 2022, at 5.24 ETH. This was followed by The Sandbox and Voxels, trading at 4.20 ETH and 2.59 ETH, respectively.

Virtual land projects have seen floor prices drop drastically between 2022 and 2023. Somnium Space had the largest drop of -93.9% from its peak, followed by Voxels with -93.8%. The other three collections fell less than 90%. The Sandbox dropped -89.8%, Decentraland fell -87.8%, and Otherdeeds with a loss of -85.5%.

Methodology

The study examined the price of the top 5 virtual lands at their peaks and current prices in ETH, from January 1, 2022 to May 24, 2023. The closing price of ETH at $1,800.74 on May 24, 2023 was taken in order to convert ETH to USD. Data was obtained from CoinGecko and Dune Analytics.


If you use these insights, we would appreciate a link credit to this article on CoinGecko. A link credit allows us to keep supplying you with future data-led content that you may find useful.

Curious to find out more about our previous research studies? Check out this one we did on Memecoins!

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Shaun Paul Lee
Shaun Paul Lee
Shaun is a Research Analyst at CoinGecko, who has lived and breathed crypto since 2017. Previously a community manager for Synthetix and RedFOX, he dived down the crypto rabbit hole to grasp a better understanding of the industry. He now spends copious amounts of time on Crypto Twitter and Telegram, searching for the next idea for CoinGecko Research. Follow the author on Twitter @ShaunPaulLee

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