Metaverse Land Prices Plummet 99.8%, $24 Million Parcel Now Worth $9,000

Gate News reports that on March 19, metaverse land prices have plummeted by 99.8%. A plot once valued at $24 million is now only worth $9,000. This sharp decline reflects broader market re-pricing, as digital land once considered a durable asset has lost its premium value. Notable transactions from the 2021-2022 boom show that a $450,000 property in a certain metaverse platform is now only selling for $1,025, a 99.8% drop.

This downward trend is part of a wider reset in the NFT market, with trading volume significantly decreasing. DappRadar reports that NFT trading volume in Q2 2025 fell by 45%, despite a 78% increase in sales, indicating a market shift toward cheaper assets. NFT lending market trading volume also dropped 97% from its peak, further eroding high-end valuations. While some metaverse projects have recently seen gains, they remain well below their peak valuations, highlighting a market moving toward more tradable and practical assets.