Introduction
Less than ten months ago, you’d find it hard not to come across an article foreshadowing a blockchain-powered digital future where we all live in virtual worlds with our virtual friends inside our virtual real estate.
In 2021, we saw how a series of bullish announcements sparked the interest of investors, and subsequently, the price for digital land quickly reached never-before-seen heights.
Unfortunately, those prices were fueled predominantly by speculation, and very little real value was produced. Presently, virtual land trading volume is down 98% and as much as 88% for the market caps of land assets. With our feet firmly on the ground, we now wonder where it all went wrong.
This report will outline the blockchain-based digital land market and focus on The Sandbox by analyzing historical data, identifying trends, and highlighting potential opportunities.
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