Metaverse land sales soar, while Ethereum soars to $ 100 million in a week
Property sales in supermarkets are increasing at Ethereum and Solana and in a week they have grown to $ 100 million. So let’s read more in today’s Ethereum news.
Most of the money invested in the Metaverse is spent on Ethereum projects, but investors are also looking for Solana. Interest in super reverse land or virtual real estate is the latest trend in cryptocurrencies and appears to be exploding with over $ 100 million invested in the past week, according to DappRadar. Metaverse land is a virtual asset in the form of NFTs, which are unique digital tokens that can represent ownership of anything online such as audio, art, or in this case part of the metaverse. Most of the activity currently exists on the Ethereum network and its blockchain, but it competes with Solana.
In the market, the frequency of trade and the evolution of user habits are more important than the highest overall GMV.
– Li Jin (@ ljin18) November 30, 2021
In the Metaverse, investors can buy land independently of the network, build their own virtual world and finally interact with others via NFT as avatars. Investors in the Metaverse are now part of that craze because Meta or Fb, formerly known as the world’s seventh largest company by market capitalization, is rebranding to focus on the NFT metaverse space. DappRadar noted in the website post:
“The wave of attention to virtual worlds like The Sandbox and Decentraland began with the renaming of Facebook to Meta. Without a doubt, Metaverse Land is the next big hit in the NFT space. With record sales and consistently bullish NFTs, virtual worlds are the new flagship in the crypto space. Metaverse events are becoming an industry standard in the crypto space. ”
Last week, $ 86.6 million was spent on the largest supermarket project, The Sandbox. Adidas even partnered with the platform, saying the Metaverse is one of the most exciting developments in the digital space, helping to grow as a major project. Other big brands as well as celebrities have started the trend, including Softbank, Animoca Makes, LG Engineering Ventures, and rapper Snoop Dogg. Next up is Decentraland in terms of land sales, on which investors spent $ 15.53 million last week.
The DappRadar metrics are based exclusively on the Metaverse and were created via Ethereum. Solana, an ETH competitor and the fifth largest cryptocurrency by market cap, also saw explosive interest in NFTs looking to join the Metaverse. Portals calling themselves Animal Crossing Meets Sim City meets Sandbox / Decentraland Metaverse on the Solana blockchain launched on Friday and sold for about $ 10 million in NFTS. That’s enough for third place behind Decentraland.