NFT sales were dominated by digital land in the Metaverse last week.
According to NFT and Metaverse sales during the last week, digital land outsold all other commodities, art, and collections.
According to NonFungible’s industry data platform, more than $300 million in NFT sales had occurred in the last week. Almost a fourth of the sum has been for digital land in the Sandbox Metaverse.
Over the last week, in-game digital land accounted for all 10 of the top ten NFT Metaverse sales across the top five collections.
Over the previous week, the Sandbox received $70.5 million in total volume for 4,433 assets, making it the most profitable Metaverse collection.
Although Decentraland ranked second in total volume traded, the top ten most costly metaverse NFT sales in the previous week ranged from 225,000 MANA ($758,250) to 50,000 MANA ($220,000) in the Ethereum-based virtual world. Over the last week, Decentraland exchanged 399 assets for $6.6 million in volume.
Meanwhile, CryptoVoxels traded roughly $650,000 in volume for 81 assets during the last seven days, Somnium Space traded $492,000 for 40 assets, and SuperWorld traded $227,600 for 506 assets – all of their largest deals were also for virtual land.
The Metaverse is a virtual reality internet experience that combines blockchain technology and nonfungible tokens (NFTs) to pay for and own products online. For example, when you buy anything in-game, you truly own it and may keep, trade, or sell it.
According to DappRadar, more than 6,000 dealers traded $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,” stated DappRadar in a blog post at the time.