An initial interpretation of the numbers from DappRadar on October 11 reported extremely low engagement numbers for Decentraland, one of Web3’s most hyped metaverses. The numbers surprised the community, as the platform has a current market valuation of $1.2 billion.

Shortly after the initial report was published, both DappRadar and Decentraland verified that the published number of fewer than 40 unique active wallets (UAWs) was not an accurate representation of activity on the network. According to DappRadar’s tracker at the time of this writing, the UAW has just over 600.

A post-incident report by DappRadar revealed that blockchain gaming and metaverse projects raised a total of $1.3 billion in the fiscal third quarter.

However, if user engagement is low, what keeps investors coming back for more…