Decentraland is a metaverse initiative that lets individuals buy and trade digital properties. Despite the fact that Decentraland has valuations in the billions of pounds, a recent data report revealed that there were only “38 active users over a 24-hour period” in the Ethereum-based universe.
Reporting on the story, Futurism cited data aggregator DappRadar’s statistics, which CoinDesk had previously reported on. 38 is a “confoundingly low number,” according to Futurism, given the $1.2 billion market cap of Decentraland. Sam Hamilton, the creative director of Decentraland, maintained to CoinDesk that not everyone who visits the website to engage in social interaction is being counted.
Some Sort of Silver Lining
What Hamilton is highlighting is that the term “active users” refers to individuals who participate with the Decentraland system and have a unique blockchain wallet address. Hamilton, who claims that on average, the platform receives 8,000 users each day, maintained that DappRadar only tracks users that engage with its contracts. Even if Decentraland is averaging 8,000 people per day, Futurism notes that this is still ‘dismal’ given that the metaverse project is expected to be the future of online communities.
On October 11, DappRadar announced that it is recalculating its Decentraland statistics and that it is closely collaborating with Decentraland to track the daily ‘active’ users of the metaverse more precisely in the future. “It’s vital to remember that data on the blockchain is unchangeable, therefore it doesn’t lie,” said DappRadar. For each dapp, this data may not necessarily signify the same thing. Additionally, blockchain data doesn’t necessarily provide a whole picture.