The Market for Onchain Galleries

NFT Galleries and their Categories

In order to better understand the marketplace for virtual NFT galleries, it is useful to divide them in to 3 different categories.

1. Token-based Galleries: Platforms like Decentraland focus on creating demand for their native tokens through in-metaverse transactions but may limit accessibility due to token requirements.

2. Token-free Galleries: Platforms like Spatial allow for greater accessibility without requiring a token, enabling a more user-friendly experience.

3. Open Galleries: Platforms like Oncyber offer the most flexibility, supporting various blockchains and artifact types while fostering community collaboration.

The following list is not exclusive, but lists the most significant platforms:

As of 2024, Decentraland , Spatial and Oncyber each stand as significant examples for these NFT gallery categories. So lets look at those three metaverse ecosystems a bit closer.

Decentraland: Pioneering Music-Driven Virtual Spaces

Decentraland represents a category of virtual galleries and platforms that operate with their own native token, in this case, "Mana." By creating demand for the token through in-metaverse products and experiences, Decentraland establishes a distinct ecosystem. However, this approach comes with limitations. Users must often rely on token bridges to access Mana, a process that can be cumbersome and inefficient. A notable challenge arose when Decentraland implemented a token upgrade, rendering older versions of Mana obsolete, which raised concerns about the long-term viability of their token strategy.

Despite these obstacles, Decentraland has carved out a unique niche, particularly in the music domain. The platform has demonstrated remarkable potential in crafting immersive, visually captivating events. A standout example is the Decentraland Music Festival, held from November 20-23, 2024, now in its fourth edition. Focused on electronic dance music (EDM), the festival showcased dazzling visuals, intricate lighting effects, and a variety of virtual gear. These elements combined to create an experience that felt remarkably akin to a live concert. Attendees were treated to impressive light shows, dynamic dance moves, customizable wearables, and a host of engaging side events.

The Good and the Bad

The Good:

• Music and Metaverse Integration: Decentraland effectively combines the energy of music festivals with the limitless possibilities of the metaverse. The platform has cultivated a strong network of musicians, ensuring diverse and engaging lineups.

• Visual Appeal: From stunning light shows to creative avatar wearables, the visual aspects of Decentraland's events are exceptional, creating an immersive atmosphere for attendees.

• Focus on Community: The platform's emphasis on bringing people together for shared experiences positions it as a leader in virtual community-driven spaces.

The Challenges:

• Token Barrier: The Mana token remains an entry hurdle, particularly for those unfamiliar with cryptocurrency or deterred by its technical demands.

• Centralization Concerns: Decentraland's centralized nature limits its appeal to blockchain purists who prioritize open-source, decentralized platforms.

• Music Quality: While the visuals and interactivity shine, the music itself often falls short of the standards set by world-class. Business comes with quality!

• Technical Limitations: Slow load times and demanding hardware requirements can detract from the user experience.

Despite its challenges, Decentraland is pushing boundaries in the virtual event space, particularly in music-driven experiences.

By prioritizing visuals, interactivity, and community, the platform is proving that the metaverse can be a viable venue for creating shared cultural moments. While there is room for improvement, particularly in sound quality and decentralization, Decentraland's approach to integrating music with the metaverse is writing a new chapter in digital history. For those seeking a vibrant, community-focused virtual world, Decentraland remains a compelling choice. That said, Decentralands’ recent 2025 Vision announcement to focus their efforts on reviving an “internal economy” leaves me sceptical that the team will be able to find the right strategy. A stated focus on art and music would be better.

Spatial: User-Friendly NFT Galleries

Spatial represents a category of NFT galleries that offers an accessible and inclusive platform that does not require a native token. Users can freely create and showcase their NFTs in virtual galleries, making Spatial an excellent option for both blockchain enthusiasts and newcomers. Additionally, non-NFT-based art can also be displayed, further broadening its appeal.

However, Spatial has its limitations. Many of its galleries are one-of-a-kind (1 of 1), which means certain desirable spaces cannot be purchased at reasonable prices or replicated. Despite this, some projects do feature multiple editions. For example, the Exclusible Series offer a nice range of Galleries on Spatial at reasonable prices.

Spatial sets itself apart through its early embrace of decentralized principles and its focus on creativity. It does not use a “native token” which is a very strong bonus.

Initially built on Polygon and Ethereum, it established a community-driven ecosystem where pioneering NFT artists—often referred to as "OG" creators—found a platform for innovation. This strong foundation continues to attract and retain a dedicated artist community. Spatial's user-friendly features, such as email-based login, ensure accessibility for users of all technical backgrounds, reinforcing its role as a bridge between traditional art enthusiasts and the blockchain world.

OnCyber: An On-chain Metaverse

OnCyber presents an open and accessible version of blockchain-enabled metaverses, offering flexibility and exclusivity. Users can import NFTs from various blockchains as well as display non-blockchain-based artifacts, ensuring compatibility with diverse digital assets. The platform also provides a wide range of gallery types available at reasonable prices, making it an appealing option for artists, collectors, and enthusiasts alike.

OnCyber has gained prominence as a hub for serious art exhibitions and high-quality digital art experiences. Renowned collectors, such as Punk6529 (The "The Goose" ), have created stunning spaces including the Museum District or Samsys’ NotNYC.

An important milestone within the NFT Gallery ecosystem was Steve Aoki’s A0K1VERSE. It marked the first “collection” of NFT Galleries that convinced through their artisitic vision and design.

Beyond its artistic focus, OnCyber has hosted excellent educational events. For example, the University of Nicosia—the first institution in 2017 to offer a full master’s degree in blockchain - launched a free university course - NFTs and the metaverse in 2022 where parts of the course was hosted entirely within OnCyber. The course director was none other than Punk6529 himself who brought with him a host of interesting speakers and educators.

Another interesting event was the NOT NYC conference/party in April, 2023.

Oncyber had just on-boarded an exceptional new artist, named Samsy, who was helping to improve high performance graphics. Apart from that the music during the party (french house music) was exceptional. Instead of settling for just “any music” Oncyber brought out some great French House DJ which made it a great experience.

But it got better. For the attentive visitor there were side events with talks and education. I attended one event, where we would chat casually together. When time was up - no one wanted to leave. A remarkable experience.

OnCyber stands out as an art-centric space that is especially interesting for creators. Its open nature, a network of high-end artists and a commitment to collaboration, makes it a great place to be in the metaverse.