Platforms The Sandbox and Decentraland are the ones that have attracted the highest volumes of NFT land sales. The most expensive ones exceed USD $ 2 million.
The real estate market is growing rapidly within the metaverse.
The demand for virtual lands in metaverse spaces has started to increase, according to a recent report of DappRadar. Last week, four metaverse projects based on Blockchain generated more than $ 100 million in tokenized virtual land sales (that is, in the format of tokens non-expendable, or NFT).
According to the report, four leading virtual worlds: The Sandbox, Decentraland, CryptoVoxels and Somnium space, have been reporting solid sales in recent days. As such, these platforms recorded a Combined trade volume of USD $ 105.8 million including over 6,000 traders.
Without a doubt, metaverse earth is the next big thing in NFT space. With record sales figures and NFT prices constantly rising, virtual worlds are the new major product in the crypto space.
Land of The Sandbox and Decentraland they are the most sought after
The report, which was based on sales recorded between November 22-28, detailed the sales volumes for each platform. The Sandbox It was the one that represented most of the volume of the week with USD $ 86.56 million, Decentraland represented USD $ 15.53 million, while CryptoVoxels and Somnium space generated USD $ 2.68 million and USD $ 1.1 million, respectively.
The four main metaverse worlds are based on the blockchain Ethereum, although DappRadar assured that the volume of sales of the land in NFT of the platforms based on Solarium it has also registered increases in recent weeks.
According to the report, a sign of the growing interest in NFT parcels is seen in the increase in sales of the land compared to the rest of the digital collectibles market. “The big four of the metaverse consistently outperform the big NFT projects“, He assured DappRadar. And among all, Sandbox ranks as the second most popular NFT collection.
Another sign is the increase in land prices. As long as you collect like Bored Ape Yacht Club and CryptoPunks Left behind, some NFT land is selling for several million dollars. Last week the most expensive was the Fashion Street Estate on Decentraland, which changed ownership for 618,000 MANA, or $ 2.42 million.
In accordance with DappRadar, the attention for virtual worlds began to grow following the announcement of the rebrand from Facebook to Meta; But the team believes this is just the start of a bigger trend:
However, this is just the tip of the iceberg that pushed the term metaverse into the mainstream. Virtual worlds have enormous potential, and we are just beginning to see the full range of use cases for the metaverse earth.
The euphoria over the metaverse isn’t just from Facebook
The lands of the metaverse are virtual spaces whose property is shown in the form of NFTs, unique tokens that can represent the property of almost any object online; an image, a video, or in this case, a part of the metaverse.
Regardless of the blockchain, metaverse investors can buy land on which they can build things and build their own world. They can also interact with that parcel or world and explore it through their avatars. Although in some cases these platforms are related to virtual games, it seems that many are seeing value in acquiring valuable goods, such as works of art or luxury items, within the metaverse.
For example, last week, a virtual terrain within the game Blockchain Axie Infinity It sold for a whopping $ 2.4 million, the equivalent of a real-world home in Manhattan. At the same time, The Sandbox too sold an ultra-luxury megayacht tokenized for 149 ETH or more than USD $ 660,000.
The euphoria for virtual worlds has certainly exploded after Facebook’s rebranding, a change that is part of an effort by the company to create its own metaverse. Since then, a group of renowned brands has begun to venture into the space. including Adidas, who a few days ago bought his own NFT plot in The Sandbox and announced a partnership with the platform.
The trend has spread to financial and banking giants, who now anticipate that the metaverse could turn into a multi-billion dollar market in the next few years.
Article by Hannah Estefanía Pérez / Daily bitcoin
Image from Unsplash