Decentraland Wearables Market Analysis – What’s gone up in Value and Why
Posted On April 15, 2020
Let’s talk Decentraland Wearables.
What Are They?
Clothing pieces and items that are represented by an NFT token you can wear in Decentraland.
These can be bought in Decentraland Wearables Marketplace OR Opensea Marketplace. Both are seperate listings. (It’s important to note the background colors, which usually define the rarities, are DIFFERENT on both platforms. You can confirm rarity by clicking into the wearable and checking the count.)
Basically, wearables are a way to show off your swag but are also seen as ‘investments’ as their mint #’s are different.
For example, the neon colored suit above, (top and pants), are ‘mythic’ which means there’s only 10 of them in ALL of Decentraland!
For this reason, they’ve sold for 5,000-20,000 MANA each.
The Pumpkin Head is a ‘Legendary’. Only 100 of these available. They’ve gone from 500 Mana to recent sales of 1700+ MANA each!
There are 5 rarities with supply counts and background color. (Note – Color is DIFFERENT on Opensea and Decentraland. The colors in the list below are Decentraland colors). Make sure you click into the wearable on Opensea to see the mint number to verify rarity!
Mythic: 10 – Pink
Legendary: 100 – Purple
Epic: 1,000 – Blue
Swanky: 5,000- Green
Uncommon: 10,000 – Red
What’s gone up in Value?
We’re at early stages of the Wearables market. We only have about 4-5 months of real data to go by and still don’t know how new/community wearables introduced to the market will effect the price as so far it has only been Decentraland themselves releasing wearables.
There have been multiple collections introduced.
All by Decentraland themselves as we’re still transitioning to community created wearables. Generally speaking, the older the collection the more valuable it is. Like the DCL Exclusive Masks. There are only 100 of each in supply and they are the FIRST set of wearables introduced in Decentraland.
You could get them when Decentraland held their very first meetups to stress test the platform. You had to do a few tasks to claim a mask. They used to sell for 500-1,000 MANA, now they go or 3-4000 MANA+
(Ignore the colors – Opensea has random colors for some reason)
That’s why I’m always rocking my Fox Mask.
Some other earlier collections like Neon and Cyber sets have also gone up in value as they give a cyberpunk/tron vibe and look pretty awesome.
Most wearable categories that are PRE-DCL Launch Wearables are seen as ‘Beta wearables’ in the sense that they’ve been introduced by Decentraland to test.
These categories are circled below,
Some other Categories like DCL MyCryptoHeroes were promo wearables that were given to the first 4,000 people that claimed names.
Some items have gone up in value just because people have seen them as special
Launch T Shirt, (With Date)
There are 5,000 of these in circulation BUT since it’s the only shirt with a huge launch date stamped in the front of it, people are collecting/hoarding them.
In 5 years, something like this can show that you were one of the early ones in Decentraland.
They’ve gone from 20 MANA to 170-200 MANA in the last 2 months since launch!
With only 100 in circulation and the ONLY wearable that is designed around Bitcoin.
So you can believe it’s popular with Bitcoin believers.
It’s gone from 1,000 to 3,000 MANA. 3x in less than 2 months.
Generally speaking, everything is slowly going up in value, ones that are more rare are going up in value quicker.
So far, the wearables introduced have NOT been directly submitted by the community. All have been released by DCL.
So what’s going to happen when Decentraland open up community wearables to everyone? If people release 1,000’s of wearables then it’s going to make all wearables worth almost nothing.
Decentraland are figuring out how to introduce community wearables. Maybe you have to apply for a license or do some activities to unlock the ability to create a wearable. But there must be some work involved or it’s going to destroy the wearables economy.
So we are yet to see how this will effect the above wearables.
So far, I feel the launch T shirt is the strongest wearable just because it has a date stamped on it and can’t really be replicated.
In my opinion, the wearables market, if done right, will do much higher volume than the Decentraland Land Market. As more people can own and get involved in the creation of them.