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Saturday, September 30, 2023

Metaverse Dominated NFT Sales Last Week

Digital land seems to be in quite a high demand in the crypto market, according to the past week’s NFT and Metaverse sales figures. According to data received from industry metrics platform Nonfungible.com, it can be understood that there has been close to $300 million in NFT sales over the last week. On the whole, close to a quarter has been kept aside for digital land in The Sandbox.

Over the last week, every single one amongst the top 10 NFT sales across the top five collections were situated in the in-game digital land. The Sandbox then went on to trade a total volume of $70.5 million for around 4,433 assets over the eventful last week- making it the collection that brought in the most amount of cash. 

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Digital Land Coming In Through Metaverse

While Decentraland did come in second place in the total volume traded, the top 10 most expensive Metaverse NFT sales over the last week were all based on the virtual world of Ethereum. Decentraland, on the other hand, traded in about $6.6 million in volume or 399 assets over the last week.

The last seven days also saw CryptoVoxels trading close to $650,000 in volume for 81 assets; Somnium Space also traded in $492,000 for 40 assets, and SuperWorld traded around $227,600 for 506 assets- with every one of their top trades coming in for virtual land. 

The metaverse is quite an immersive experience of virtual reality that utilizes blockchain technology and NFTs to own and pay items online. As an example, when one makes a purchase in the game itself, they would actually own the item, thereby making it eligible for holding, trading, and selling it. 

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As reported by DappRadar, close to $106 million worth of metaverse land has already been sold among more than 6,000 traders in the week that ended on Thursday. 

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