Following a recent report by DappRadar on daily active users, some Metaverse platforms like Decentraland and Sandbox have disagreed with the report, stressing that the data is misleading.
The duo argued that the metric used by DappRadar in measuring the number of active users, which suggests that there is low daily activity is inaccurate and misinforming.
DappRadar has revealed that Decentraland metaverse has just 30 daily active users despite boasting of a $1.2 billion market cap. In reaction, Decentraland contended that some websites are merely measuring smart contract transactions and reporting them as daily active users, which is not supposed to be so.
In the same vein, Sandbox CEO Arthur Madrid opposed the DappRadar report that on-chain transactions do not translate to users in all ramifications. He further added that Non-Fungible Token (NFT) investors consider the long-term growth and values of the asset based on utilities.
Decentraland then suggested that accurate and reliable data can be seen at DCL Metrics, which is a data aggregator platform dedicated to providing information and statistics on DAUs transactions.
However, Decentraland data revealed that there were 56,700 active users in the month of September but only 1,074, which is less than 2% interacted with Decentraland smart contracts.
In the same vein, Sandbox asserted that its platform has 201,000 monthly active users as against the low figures released by DappRadar.
Meanwhile, there is no denying the fact that the current bear market has taken a toll on these most legitimate metaverse projects.
As of now, Decentraland Token, $MANA, is trading at $0.65 according to CoinMarketCap, which is down by 88.8% from its all-time high (ATH) of $5.85.
Also, Sandox token ($SAND) is trading at $0.78 according to CoinMarketCap, which is down by $90.6 from its all-time high (ATH) of $8.40.
Metaverse Grows Amidst Bear Market
Despite the prevailing bear market, it appears that there is steady growth in the metaverse space. The US tech giant, Yahoo, recently joined Facebook owner Meta in testing metaverse tech in Hong Kong.
Interestingly, there is a surge in holders of Decentraland’s MANA token as per DCL metrics report.
