Prices of virtual land in leading metaverses have plummeted significantly since their peak in 2022, with most properties losing around 90% of their value. Notable metaverse properties like Otherdeeds, The Sandbox, Decentraland, Somnium, and Voxels have all seen substantial declines.

Voxels, in particular, offers the cheapest virtual land at 0.16 ETH, despite its properties suffering a 93.8% loss in value. Somnium has faced similar depreciation. Nonetheless, Voxels remains hopeful for a recovery, as tech giants and major economies continue to explore the metaverse's potential through various investments and initiatives.

According to eToro market analyst Josh Gilbert, Apple's new VR headset could potentially ignite market interest, given Apple's history of producing high-quality, influential products.