Digital land in the Metaverse witnesses record-breaking sales over the past week
According to the latest figures in the crypto sector, digital land has been running in huge demand with the last one week’s NFT and Metaverse sales figures revelation.
NonFungible, an industry metrics platform, has represented data that shows digital land is the already an emerging lucrative market, recording more than $300 million in NFT sales only in one week. Of the total amount, almost a quarter had been for sales of digital land in the Sandbox Metaverse.
In the week gone by, each one among the top ten NFT Metaverse sales was made across the top five collections opting for in-game digital land.
The Sandbox has registered trade a total volume of $70.5 million for 4433 assets, thus making it the Metaverse collection that raked in the biggest cash.
Although Ethereum-based virtual world, Decentraland ranked in the second place for the total volume traded, the top ten most expensive metaverse NFT sales that ranged from 225,000 MANA ($758,250) to 50,000 MANA ($220,000), were made on it.
Decentraland has recorded trading $6.6 million in volume for 399 assets over the last week. CryptoVoxels has traded around $650,000 in volume for its 81 assets, while Somnium Space has witnessed a trade of $492,000 for 40 assets, and SuperWorld traded $227,600 for a total of 506 assets wherein all of their top trades were registered for virtual land.
In the crypto sector, the Metaverse has been described as an immersive virtual reality experience on the internet that combines blockchain technology and nonfungible tokens (NFTs) for paying as well as owning items online. For example, whenever one makes an in-game purchase, we actually own the item, and are free to hold, trade or sell it.
According to data from DappRadar, $106 million worth of Metaverse land had been reported to have sold among more than 6000 traders in the week that ended on December 2. The website said on a blogpost that the Metaverse is “undoubtedly”, “the next big hit in the NFT space.”
The blog also stated that outputting record sales numbers and consistently;y increasing NFT prices have made virtual worlds “the new top commodity in the crypto space.”
In June 2021, a virtual real estate investment firm had broken Decentraland’s record for the most expensive digital land plot that was ever sold after spending $913,000 on 259 parcels.
In the NFT marketplace, firms including Sandbox, OpenSea and Decentraland had held their spots as the top two collections traded on the platform in the last one week.