land is popular and dominates NFT transactions

NFT and Metaverse sales data in the past week show that digital land is in great demand in this already very profitable market.

According to data from industry indicator platform NonFungible.com, NFT sales exceeded $300 million in the past week. Of this total, almost a quarter is used for digital land in the sandbox Metaverse.

In the past week, the top 5 series in the top 10 NFT Metaverse sales are all digital lands in the game.

In the past week, Sandbox has traded a total of 4433 assets worth $70.5 million—making it the metaverse series that earns the most cash.

Although Decentraland ranked second in total transaction volume, in the past week, the top 10 most expensive Metaverse NFT sales, ranging from $758,000 to $220,000, were all in the virtual world. In the past week, Decentraland has traded $6.6 million for 399 assets.

At the same time, in the past seven days, CryptoVoxels transaction volume was about 650,000 US dollars, involving 81 assets; SomniumSpace transaction volume was 492,000 US dollars, involving 40 assets; SuperWorld trading volume was 227,600 US dollars, involving 506 assets-they The top deals are also for virtual land.

Metaverse is an immersive Internet virtual reality experience that uses blockchain technology and NFT to pay and own online items. For example, when you make a purchase in the game, you actually own the item and are free to hold, trade, or sell.

According to data from DappRadar, in the week ending Thursday, $106 million worth of Metaverse land was sold among more than 6,000 traders. “Undoubtedly, Metaverse Land is the next big hit in the NFT field. With record sales figures and ever-increasing NFT prices, the virtual world is the new top commodity in the cryptocurrency field.”

In June, a virtual real estate investment company broke the record for the most expensive virtual land sales in Decentraland’s history after spending US$913,000 to purchase 259 plots of land.

On Opensea in the NFT market, Sandbox and Dentraland maintained their positions, becoming the top two collections of transactions on the platform in the past week.

What is virtual land?

Virtual land is the real estate in the Metaverse. Each piece of land is given a unique and non-copyable NFT, which distinguishes each piece of land and each transaction. Land suppliers and users can buy/sell in the primary/secondary market of the platform, and use virtual real estate for residential or commercial use.

What is the value of virtual?

1. Scarcity contributes to value growth. The Internet may be infinite, but the Metaverse is not. The amount of land in each world (platform) in the Metaverse is limited, and land cannot be increased, so only some people have the opportunity to obtain land.

2. Building and operating land to attract players. By building high-quality land, outputting good content, and good operation to attract more players, players will make this space generate immeasurable value. (Such as: building and operating shopping malls, universities, hospitals, art centers, etc., as long as it is what you want to build, you can realize and start operating and profiting here, forming a virtuous circle.)

3. Build brand value. Brands use new methods to drive the real world economy and open up a new track for brand growth. Such as: Nike, Adidas, Gucci, Burberry, LV and other brands are in contact with Metaverse to explore new strategies for brand growth. Nike became one of the first major brands to fully embrace Metaverse. Nikeland is a customized 3D world set in a digital version of its global headquarters in Beaverton, Oregon. Nikeland ‘s immersive virtual space in the Roblox gaming platform is created for users to play, compete… and purchase Nike equipment.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/land-is-popular-and-dominates-nft-transactions/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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