According to NFT and Metaverse sales over the last week, demand for digital land surpassed all other items, art, and collections
As the NFT and Metaverse sales data from the prior week showed, digital land is in high demand in an extremely profitable sector.
As per NonFungible's industry records platform, there have been more than $300 million in NFT sales in the last week. Almost a quarter of the total has been for digital land in the Sandbox Metaverse.
Each of the top 10 NFT Metaverse sales during the last week was for in-game digital land across the top five collections.
Over the last week, the Sandbox generated $70.5 million in total volume for 4,433 assets, making it the most lucrative Metaverse collection.
Even though Decentraland ranked second in terms of total volume traded, the top ten most costly metaverse NFT sales in the previous week, which ranged from 225,000 MANA ($758,250) to 50,000 MANA ($220,000), were all conducted on the Ethereum-based virtual world. Over the last week, Decentraland traded 399 assets for $6.6 million in volume.
In the meanwhile, CryptoVoxels traded roughly $650,000 in volume for 81 assets over the last seven days, Somnium Space traded $492,000 for 40 assets, and SuperWorld traded $227,600 for 506 assets all of their major trades were for virtual land.
The Metaverse is an extensive virtual reality internet experience that leverages blockchain technology and nonfungible tokens (NFTs) to pay for and own products online. For example, whenever you make an in-game purchase, you own the item and are free to keep, trade, or sell it.
DappRadar reports that more than 6,000 traders sold $106 million in Metaverse land in the week ending December 2.“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,” said DappRadar in a blog post.
After paying $913,000 on 259 parcels, a virtual real estate investment company shattered Decentraland's record for the most expensive digital land plot ever auctioned in June.
Opensea, Sandbox, and Dentraland were the top two collections traded on the NFT marketplace during the last week.