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DappRadar analysts say the industry and observers need to internalize the evolving utility of metaverses. Blockchain-based virtual worlds are struggling to weather the storm as on-chain data indicate a continued trade decline. According to a monthly overview report by DappRadar, in August 2023, there were only 8,329 land sales (worth $4.1 million in total) in virtual reality projects, a decline of 23% compared to Jul. 2023. Trading volume in virtual worlds | Source: DappRadar In addition to regulatory pressure from U.S. regulators, the decline in sales comes when the whole crypto industry is trying to stay afloat amid the bear market. Decentraland volume and sales data on a daily basis | Source: NFT Price Floor According to data from NFT Price Floor, Decentraland’s average sale price plunged 22% to 0.5322 ETH (~$860 at the time of writing) per land over the past 90 days. Decentraland trading volume for the same period dropped by 40.5%. Other metaverse-focused ecos...

As part of the partnership, all NFTs in The Sandbox's collection wallet will be transferred to the Ledger Enterprise wallet. A decentralized Metaverse platform, The Sandbox, will partner with security solution provider Ledger Enterprise to develop security integration for its partners. The latter will get their nonfungible token (NFT) collections migrated to the Ledger wallet.  The Sandbox announced a partner ship in its official blog on Apr. 23. The collaboration will include several initiatives. The Sandbox will appear as a dApp on Ledger Enterprise, a certain widget will also be integrated in the Ledger Live desktop application. All NFTs in The Sandbox collection wallet will be transferred to the Ledger Enterprise wallet. Apart from that, as the release emphasizes, The Sandbox will recommend Ledger Enterprise to its LAND owner ecosystem, while Ledger will promote the Metaverse to its clients. The initiative extends the recently established partnership between The Sandbox and Le...