✍️ 13 November, 2022 – 12:51 👤 Editor: Jakub Motyka
- Decentraland (MANA) has seen a decline in its daily active users.
- Despite this, it still maintains a capitalization of over 1,200 million dollars.
- DappRadar offers us new data about it. Read on to find out more.
Decentraland (MANA), the popular metaverse-focused game, has seen a decline in its daily active users (DAU). According to data from DappRadar, the Decentralized Applications (DApps) and NFT monitoring and analysis platform, Decentraland only has 30 active users per day. However, an alternate data source showed a significant discrepancy on this.
DappRadar is a platform that offers updated statistics and has a database of the different blockchain ecosystems. Through it, it is possible to have a general focus on the strength or weakness of a decentralized application, and therefore, make better financial decisions.
However, this discrepancy in the data has called into question the reliability of the platform, and the assessment of Decentraland itself. In any case, the truth is that, even with alternative data in hand, Decentraland (MANA) finds it expensive to maintain its servers for the number of users that use them. Which makes it hard to get the token to the $100 price prediction.
Why Has The Number Of Decentraland Daily Active Users (MANA) Decreased?
Decentraland is an Ethereum (ETH) based metaverse platform that allows its users to create, experience and monetize content and applications. It is a project totally controlled by a Decentralized Autonomous Organization (DAO). It operates using the ERC-20 token, MANA, to grant the right to vote. The operations within the platform are carried out with LAND, which is obtained by burning MANA.
According to data from CoinMarketCap, MANA’s current transaction volume is 109 million dollars, with a capitalization of 1,216 million dollars. According to data from DappRadar, interest in the metaverse has noticeably decreased.
However, there are those who believe that these data are not entirely correct. According to the information collected by the DCL Metrics website, created to monitor the number of daily Decentraland users, the daily user base is around 8,000 users per 24 hours.
In any case, even this higher number would represent a cost of $150,000 per user, based on the current capitalization of the token MANA in the cryptocurrency market. The accounts of the metaverse, of course, do not come out.
What Is Causing The Discrepancy In DappRadar Data On Decentraland (MANA)?
Sam Reynolds, a Coindesk reporter, points out that DappRadar’s data is based on the number of daily users “interacting with smart contracts.”
In other words, DappRadar does not take into account users who actively play on Decentraland without triggering transactions with the contract. However, the platform’s DAU data is still very low, which would imply that operational costs depend on fewer and fewer users. And that is a problem.
More crypto news about NFTs and Decentraland (MANA):
- Apple Allows Selling NFT In Apps… But Only Paying The 30% Fee
- The Creators Of Bored Ape Introduced A Democratic Council
- Decentraland (MANA) Launches Emotes, The Animated Version Of NFTs
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