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Mega Cash for Metaverse Land — Weekly Land Sales on Metaverse Hit About $100 Million

Virtual Real Estate

Real estate — or maybe hyper real estate — is booming in the Metaverse.

According to data from DappRadar, about $100 million in NFT land sales were recorded last week and there is a steady stream of sales on .

The site reports that the four leading virtual worlds — The Sandbox, Decentraland, CryptoVoxels and Somnium Space — attracted more than 6000 traders in the last week, with  The Sandbox hitting the highest trading volume with more than $86 million.  More than $15 million traded was traded for land plot NFTs on Decentraland.

Land is increasingly the most valuable piece of the Metaverse, the site reports. Out of the ten most expensive NFT sales, five were land plots on virtual worlds. Decentraland’s Fashion Street Estate was sold for 618 MANA, which converts to about $2.42 million.

This heightened popularity and value in digital space is likely related to a few factors. These plots can play host to Metaverse events. Brands, artists and creators can also put their products  in front of large, global audiences, according to DappRadar. They add that these plot can host blockchain-based games or NFT galleries.

DappRadar, one of the most popular stores for NFTs and DeFi items that’s visited by over 500,000 users every month, expects the trend to continue.

“The wave of attention towards virtual worlds like The Sandbox and Decentraland started with Facebook’s rebranding to Meta,” the team writes. “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. The potential is almost boundless from simply building a property on top of your parcel as you would in Minecraft to actually monetizing your Metaverse land through advertisements.”

The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

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Deep Prasad

Deep Prasad

Company Speaker

Araceli Venegas

Araceli Venegas

Company Speaker

Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

Company Speaker

Deep Prasad

Deep Prasad

Company Speaker

Araceli Venegas

Araceli Venegas

Company Speaker

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