Total of $106M worth Metaverse land sold last week, according to DappRadar
Blockchain-based metaverse projects have generated more than $100 million worth of virtual land nonfungible token (NFT) sales last week.
According to the Tuesday post from DappRadar, between Nov. 22 and Nov. 28, activity was booming on The Sandbox, Decentraland, CryptoVoxels and Somnium Space with a combined $105.8 million worth of trading volume among them from more than 6,000 traders.
The Sandbox represented the lion’s share of volume for the week with $86.56 million, Decentraland accounted for $15.53 million, while CryptoVoxels and Somnium Space generated $2.68 million and $1.1 million, respectively. All four of these metaverse projects are built on the Ethereum blockchain, although projects on other chains such as Solana are beginning to gather pace, too.
DappRadar noted 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 blog post read.
Apart from these four metaverse projects, Decentraland has seen the biggest NFT land sale over the last 30 days, with a plot consisting of 116 parcels of land in the virtual world’s Fashion Street District selling for 618,000 MANA tokens, approximately $2.7 million, on Nov. 23.