While Metaverse platforms brought in $49.2 million in monthly trading volume in January, that figure dropped to a mere $2 million in November, a decline of 96% from the start of the year, according to The Block Research's 2023 Digital Asset Outlook report. Metaverse land prices have also fallen 90% from the beginning of the year, according to The Block's data dashboard.

While metaverse platform The Sandbox lost its dominance in land sales to NFT Worlds during the first few months of 2022, it finished off the year with 54% of market sales in November.

(by MK Manoylov)