“Undoubtedly, Metaverse land is the next big hit in the NFT space. Outputting record sales numbers and constantly increasing NFT prices, virtual worlds are the new top commodity in the crypto space."
Four blockchain-based Metaverse projects generated more than $100 million worth of virtual land NFT sales last week according to data from DappRadar.
A Nov. 30 post from the decentralized application (DApp) analytics firm reported that between Nov. 22 and Nov. 28 activity was “booming” on The Sandbox, Decentraland, CryptoVoxels and also Somnium Space with a consolidated $105.8 million worth of trading quantity in between them from greater than 6,000 investors:
The Sandbox stood for the lion’s share of quantity for the week with $86.56 million, Decentraland represented $15.53 million, while CryptoVoxels and also Somnium Space produced $2.68 million and also $1.1 million each. All 4 of these Metaverse tasks are improved the Ethereum blockchain, although tasks on various other chains such as Solana are starting to collect rate also.
DappRader kept in mind that “the wave of attention towards virtual worlds like The Sandbox and Decentraland started with Facebook’s rebranding to Meta.”
“However, this is only the tip of the iceberg that pushed the term Metaverse into the mainstream. Virtual worlds carry such enormous potential, and we’re just beginning to see the full array of use cases for metaverse land,” the article read.
Commenting on The Sandbox’s massive rise in NFT land sales quantity, Yat Siu the chairman and also founder of Sandbox’s moms and dad business Animoca Brands informed CryptoPumpNews that:
Siu contrasted Meta’s strategy to the a lot more natural, individual constructed setting of The Sandbox.
“While not everyone understands what digital property rights really mean, enough of them are interested in this now and this has created more net awareness. The Sandbox has captured the narrative of a real Metaverse one where you can really own a piece of it, and this is also reflected somewhat in the token price,” included Siu.
Out of the 4 tasks detailed, Decentraland has actually seen the most significant NFT land sale over the last 30 days, with a story being composed of 116 parcels of land in the online globe’s Fashion Street District costing 618,000 MANA symbols ($ 2.7 million at existing costs) onNov 23.
On the exact same day, The Sandbox additionally sold a tokenized ultra deluxe mega-yacht for 149 Ether (ETH) worth greater than $666,000 at the time of writing.
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