Metaverse Index
MVI
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Metaverse Index (MVI) is an ERC-20 thematic index fund launched by Index Coop on Ethereum via Set Protocol, designed to provide bundled exposure to metaverse and NFT-related tokens. The token demonstrates severe operational and market stagnation. Development activity has stalled with no updates beyond maintenance since 2024, community engagement is minimal and indirect through Index Coop, and market metrics reflect extreme decline—trading down ~98.8% from all-time highs with negligible daily volume (<$400) and sub-$500K market capitalization. Index Coop officially classifies MVI as a legacy product. While governance remains tied to Index Coop's legitimate DAO framework without recorded security exploits, the index suffers from severe illiquidity and functional dormancy. Note on Data Gaps: The Security and Audit History section could not be evaluated due to insufficient data (-1.0) and was excluded from the weighted score calculation.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Metaverse Index (MVI)
Metaverse Index (MVI) is an ERC-20 thematic index fund token deployed on Ethereum via Set Protocol that is officially classified as a legacy product by its issuer, Index Coop. Launched on April 7, 2021, the token was created to provide bundled, single-transaction exposure to a basket of sixteen cryptocurrencies associated with the metaverse, non-fungible tokens (NFTs), and virtual or augmented reality.
The token functions using an elastic supply mechanism that mints and burns MVI against the underlying component assets. It carries a 0.95% annualized streaming fee with zero minting or redemption fees. MVI does not have native token governance, staking mechanisms, or utility beyond passive exposure; governance and methodology oversight are handled indirectly through Index Coop's decentralized autonomous organization (DAO) and pseudonymous methodologists.
The product has experienced severe market decline and operational stagnation. MVI has fallen approximately 98.8% from its all-time high, with a market capitalization dropping below $500,000 and daily trading volumes falling under $400. Active product development, methodology maintenance, and dedicated governance have stalled, leaving the token in a functionally dormant and maintenance-only state.