- Decentraland and UNXD are preparing to host a fashion week in the metaverse.
- Analysts are eyeing Decentraland price as it approaches the area of interest.
- Investors continue pouring capital in the metaverse token, fueling a bullish narrative.
The metaverse network Decentraland is gearing up for fashion week in association with UNXD. The virtual reality platform plans to launch catwalk shows, host pop-up shops and afterparties in the metaverse.
Decentraland offers fashionistas a metaverse experience
Decentraland’s fashion week is scheduled from March 24 to March 27. The metaverse network has partnered with UNXD for fashion in a virtual environment.
UNXD is a curated marketplace for digital culture and its partnership with Decentraland
Users will have the opportunity to experience fashion in the metaverse and purchase outfits for their avatars in the Decentraland ecosystem.
Institutional capital inflow in Decentraland exploded over the past two months. Offering users a collective virtual experience, the metaverse ecosystem has attracted more active users and a spike in on-chain activity.
Based on a Grayscale report, the metaverse represents a $1 trillion opportunity in revenue. UNXD, Decentraland’s partner for fashion week, has previously worked with fashion houses like Dolce & Gabbana.
Analysts have evaluated Decentraland price trend and are eyeing the asset as it approaches an area of interest. @BigCheds, a pseudonymous cryptocurrency analyst, tweeted:
$MANA (USDT) approaching area of interest pic.twitter.com/ydILvPDlQw
— Cheds (@BigCheds) December 28, 2021
@Hayess5178 expects a bounce in Decentraland price in the short-term. His analysis reveals that Decentraland users are early and the token is currently undervalued.
Based on data from crypto intelligence firm IntoTheBlock, nearly 75% of the wallet addresses holdings of Decentraland are profitable.
Analysts have predicted that the metaverse hype has just started, and Decentraland price could make a comeback from a 4% drop in price.
@imBagsy, another pseudonymous analyst, has set a target of $4 for Decentraland price, a 17.5% rally from the current price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Lido DAO announces new phase on Ethereum with Simple DVT module
Lido DAO voted on the deployment of the Simple DVT module nearly six months ago, it is ready for mainnet as of April 17. Simple DVT helps to make Lido’s technology accessible to more users. LDO price is down nearly 3% in the past day.
New altcoins crash and burn, but this altcoin shows strength Premium
Binance Coin price shows a bullish pennant continuation pattern. BNB could range between the $600 to $526 levels until the skies clear out for Bitcoin. The altcoin could see a massive gain with the upcoming BEP-336 upgrade.
Cronos price fails to recover despite network upgrade
Cronos (CRO) is an Ethereum Virtual Machine (EVM) compatible chain in the Cosmos ecosystem. A mainnet upgrade was completed early on Wednesday and the asset’s price declined nearly 2% in the past 24 hours.
XRP tests $0.50 resistance after Ripple CLO says pretrial conference with SEC did not take place
XRP is stuck below $0.50 resistance after failing to close above this level since Monday. Ripple CLO Stuart Alderoty said late Tuesday there was no pretrial conference since the SEC dropped charges against executives.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.