The concept of Metaverse is getting colossal traction these days. Recently, virtual land nonfungible token (NFT) sales generated more than $100 million last week.
According to DappRadar, The Sandbox, Decentraland, CryptoVoxels, and Somnium Space had “tremendous” activity with a combined value of $105.8 million worth of trading. In their words:
“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.”
Out of those four, The Sandbox had the most significant part at $86.56 million. Besides this, Decentraland accounted for $15.53 million, CryptoVoxels at $2.68 million & Somnium Space at $1.1 million. Interestingly, all four metaverse projects work on the Ethereum blockchain. However, Solana blockchain is also seeing some ‘Metaverse’ action according to DappRadar.
Other than that, DappRadar also gave some interesting insights into the popularity of Metaverse. They noted that “the wave of attention towards virtual worlds like The Sandbox and Decentraland started with Facebook’s rebranding to Meta.”
Moreover, they added:
“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.”
Out of all those four projects, Decentraland has the biggest NFT land sale prize over the past month. Recently, the project sold a plot consisting of 116 parcels of land in the Fashion Street District at 618,000 MANA tokens ($2.7 million). On the same day, The Sandbox sold a tokenized ultra-luxury mega-yacht for 149 Ether ($666,000).