“Without a doubt, the Metaverse plots are the next big hit in the NFT space. With record sales figures and ever increasing NFT prices, virtual worlds are the new flagship of the crypto space ”. According to data from DappRadar, four blockchain-based Metaverse projects generated more than $ 100 million in non-fungible token (NFT) sales last week.
Four new projects in the metaverse
An article published Tuesday by decentralized application analytics company DappRadar reported that between November 22 and November 28, activity was “boomingOn The Sandbox, Decentraland, CryptoVoxels and Somnium Space with a combined transaction volume worth $ 105.8 million among over 6,000 merchants:
“Without a doubt, the Metaverse plots are the next big hit in the NFT space. With record sales figures and ever increasing NFT prices, virtual worlds are the new flagship of the crypto space.“
The Sandbox accounts for the lion’s share of the week’s volume at $ 86.56 million, Decentraland has $ 15.53 million, while CryptoVoxels and Somnium Space generated $ 2.68 million and $ 1.1 million respectively. dollars. These four Metaverse projects are built on the Ethereum blockchain, although projects on other chains such as Solana are also starting to gain momentum.
DappRadar noted that “the wave of attention towards virtual worlds like The Sandbox and Decentraland started with the rebranding of Facebook to Meta.“
“However, this is only the tip of the iceberg that has popularized the term “metaverse”. Virtual worlds have enormous potential, and we’re just starting to see the full range of metaverse land use cases.”, We read in the blog post.
The wave following Facebook’s announcement
Commenting on The Sandbox’s skyrocketing NFT land sales volume, Yat Siu, president and co-founder of Sandbox’s parent company, Animoca Brands, said:
“Facebook, in its attempt to spoof the Metaverse narrative, sparked a chain reaction from other non-Web 3.0 companies (like Microsoft) who also announced their metaverse strategies, which sparked mass interest and awareness.“
Siu pitted Meta’s approach against the more organic, user-built environment of The Sandbox.
“While not everyone understands what digital property rights really mean, enough are now taking an interest in it, and it has created more notoriety on the net. The Sandbox has appropriated the tale of a true metaverse, part of which you can really own, and that’s reflected somewhat in the token price as well.Added Siu.
Among the four projects listed, Decentraland saw the largest sale of NFT land in the past 30 days, including a plot of 116 plots in the Fashion Street district of the virtual world that sold for 618,000 MANA tokens ($ 2.7 million at current prices) on 23 November.
On the same day, The Sandbox also sold a tokenized luxury mega-yacht for 149 ethers (ETH) worth over $ 666,000 at the time of writing.
The Sandbox, Decentraland, CryptoVoxels and Somnium Space have generated nearly $ 100 million in virtual token sales with their metaverse projects on the blockchain. Indeed, activity on the Metaverse is booming, especially following the rebranding of Facebook for Meta, which has largely democratized the universe of the Metaverse. If the general public is not yet familiar with its operation, the way is now open.
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