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The Kraken report implied that “NFT volume saw a large decrease with daily volume dropping -87.1 percent.” However, May witnessed a flat daily usership.Īll categories tracked by Kraken’s report experienced negative returns, including metaverse and exchange tokens. Despite the slump in prices, the user base among those games remained consistent, with about a million users each day, as per data from DappRadar, a decentralised application tracker. Bitcoin saw a drop of -13 percent, while DeFi, or decentralised finance, saw a drop of -72 percent.Ģ022 saw blockchain-based NFT gaming and metaverse platforms as the most popular choices for traders and investors. In the same period, all other categories saw a negative price action. Metaverse tokens can be used to buy land, pay fees and be a part of governance on a metaverse platform.Įxchange tokens are the other category which saw year-on-year growth of 6 percent. Despite the current bear phase in the market, metaverse tokens are extensively outperforming every other crypto category, registering a year-on-year increase of 400 percent.Īccording to data from Kraken Intelligence and CoinGecko’s May 2022 report, the tokens which have registered the maximum gains are The Sandbox’s SAND, which went up by 470 percent Decentraland’s MANA, which went up by 41 percent Stepn’s GMT, up by 746 percent and Axie Infinity’s Axie Infinity Shards (AXS), up by 511 percent. A new report by Kraken Intelligence revealed that metaverse tokens were one of the only two categories of crypto assets to witness year-on-year growth in their prices.