Four blockchain-based Metaverse projects generated more than $ 100 million in virtual land NFT sales last week, according to data from DappRadar.
An article by the analytics company for decentralized applications (DApp) on November 30th reported that between November 22nd and 28th the activity on The Sandbox, Decentraland, CryptoVoxels and Somnium Space with a total trading volume of 105.8 million US dollars ” boomed ”. from more than 6,000 dealers:
“Without a doubt, Metaverse Land is the next big hit in the NFT space. With record sales and constantly rising NFT prices, virtual worlds are the new top product in the crypto sector. “
The Sandbox represented the lion’s share of the week’s volume at $ 86.56 million, Decentraland accounted for $ 15.53 million, while CryptoVoxels and Somnium Space accounted for $ 2.68 million and $ 1.1 million, respectively. Dollars. All four of these Metaverse projects are based on the Ethereum blockchain, although projects in other chains like Solana are also gaining momentum.
DappRader noted that “the wave of attention to virtual worlds like The Sandbox and Decentraland began with the renaming of Facebook to Meta.”
“However, this is only the tip of the iceberg that has pushed the term metaverse into the mainstream. Virtual worlds hold such enormous potential and we are only just beginning to see the full range of use cases for Metaverse Land, ”the blog post reads.
Related: NFT Sales Aiming for a Record $ 17.7 Billion in 2021, Report from Cointelegraph Research
Commenting on the huge increase in The Sandbox’s NFT land sales volume, Yat Siu, chairman and co-founder of sandbox parent company Animoca Brands, told Cointelegraph:
“Facebook, in its attempt to usurp the narrative of the Metaverse, started a chain reaction of other companies not on Web3 (like Microsoft) to also announce their Metaverse strategies, and generated interest and awareness of the masses. “
Siu contrasted Meta’s approach with the more organic, user-created environment of The Sandbox.
“While not everyone understands what digital property rights really mean, enough of them care now and this has created more internet awareness. The sandbox captured the narrative of a real metaverse where you can really own a piece of it, and that’s something that’s also reflected in the token price, ”added Siu.
Of the four listed projects, Decentraland has seen the largest NFT land sale in the last 30 days, with a plot of 116 parcels in the Fashion Street District of the virtual world selling for 618,000 MANA tokens ($ 2.7 million at current Prices) was sold November 23rd
On the same day, The Sandbox also sold a tokenized ultra-luxury mega-yacht for 149 ethers (ETH) worth more than $ 666,000 at the time of writing.
Top 10 NFT Sales November 22-28: DappRadar