Decentraland and The Sandbox are the two most prominent web3 metaverses causing a buzz in the music industry. A buzz somewhat dampened by a recent report claiming that they respectively had 38 and 522 daily active users. However, there’s more to the story.

web3 news site CoinDesk originally reported it using figures from tracking site DappRadar. However, both companies have responded by pointing out that DappRadar only tracks people interacting with the smart contracts of these worlds, but not people who just log in to chat and play.

Both have also published their own stats in response to the story, with Decentraland pointing to a dashboard showing that it currently averages nearly 7.1k daily unique visitors, and The Sandbox tweeting its daily total of 39k.

The argument for music companies and artists doing stuff in these metaverses has always been about getting in early and experimenting, rather than about expecting a huge reach. Still, with their combined total still short of 50k daily visitors, it’s a sign of just how early it is.

Those tiny DappRadar figures are relevant too: they hint that very few people are actually buying the NFTs being promoted in these spaces, on a daily basis at least (although it’s also fair to say those sales may be concentrated around specific drops too).

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Stuart Dredge

Music Ally's Head of Insight

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