Decentraland price approaches area of interest ahead of Metaverse fashion week
|- 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
$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.
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