Decentraland recently wrapped its four-day virtual fashion week. It would be hard to argue it was a success.

While the metaverse platform attracted 108,000 “unique attendees" last year, the company said only 26,000 attended this year, a dramatic decline of 76% for the event that ran from March 28 through March 31. Despite top brands like Dolce & Gabbana, Tommy Hilfiger and Adidas all sponsoring shows, a Decentraland spokesperson said the most people signed in at one time barely eclipsed 1,000 people. 

Decentraland has been valued at $1 billion, and its native token, mana, once had a market capitalization of more than $6 billion. Event planners tried to look for a bright side.

"Although attendee numbers were down, we had tens of thousands of new visitors to the metaverse," said Dr. Giovana Graziosi Casimiro, head of Metaverse Fashion Week.  "For the second ever Metaverse Fashion Week, we believe that we improved upon the experience from last year."

(by RT Watson)