April 9 (Cointime) - The median transaction price on Decentraland, a metaverse real estate platform, has experienced a significant decline, falling from $45 in 2022 to $5 – a drop of almost 90%.

In November 2022, Singaporean singer JJ Lin acquired three parcels of virtual land in Decentraland for a total of $123,000. The current value of these assets has plummeted to approximately $10,000, resulting in a staggering unrealized loss of 91%.