Decentraland, the largest metaverse platform according to market cap, has just 379 daily active users. Where are users?
“Metaverse” was the buzzword of 2021. Various companies like Meta rebranded themselves to onboard the metaverse trend. The community now believes that no one cares about the metaverse anymore.According to the data from DappRadar, a tool that provides insights into decentralized applications, metaverse platforms are struggling to retain users, despite having multi-billion dollars worth of market caps.
As of writing this, the data shows 379 daily users on Decentraland and 616 in Sandbox. Both projects have a market cap of over $1.2 Billion.
However, Axie Infinity had over 21,000 users. Whereas Alien Worlds, a metaverse where players compete for scarce resources, had over 202,000 users.
Why are there no users for Decentraland and Sandbox?
DappRadar defines an active user as a number of unique wallet addresses interacting with a particular Dapp’s smart contracts. It may not include the users who might just be exploring around in the metaverse without making a transaction in the smart contract.
Sandbox and Decentraland are platforms where users are not required to make transactions frequently. At the same time, games like Axie Infinity or Alien Worlds need players to interact with the smart contract often.
The official Twitter handle of Decentraland clarified the discrepancies with a
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