Theverse
Think hub studio
The metaverse is flourishing right now as people and companies join. In the last week, a total of $106 million was spent on virtual property, with purchases of digital land, luxury yachts and other assets.
The Sandbox is an online gaming world that allows users to own plots of land. The platform attracted 86.56 million unique non-fungible token land sales that are tied to the blockchain.
Decentraland brought in over 15 million dollars in sales of digital plots of land. Somnium Space, a metaverse platform, sold $1.10 million worth of real estate, while smaller competitor CryptoVoxels sold digital land for a total of $2.68 million.
Virtual worlds have trading volume in 7 days.
DappRadar is a website.
Users can play games, trade digital assets and buy and sell anything from digital sneakers to digital dresses in the metaverse, where buyers spent record amounts of money last week.
Metaverse Group, a subsidiary of Tokens.com, bought digital land for a record amount of money. A plot was purchased for more than $2 million on Axie Infinity in the same week.
Metaverse land is the next big hit in the NFT space. Virtual worlds are the new top commodity in the space due to record sales numbers and constant increases in NFT prices.
Over 6,000 traders visited the four leading virtual worlds last week. Decentraland was the 8th most traded NFT collection over the previous week.
The report said that the surge in metaverse-related activity began with Facebook's decision in late October to change its name to "Meta", in a nod to its commitment to building out its own digital world for its users.
Metaverse events are becoming standard in the space. Virtual events in the metaverse will only become more popular as brands, artists, and creators are allowed to showcase their work and product to millions of people worldwide.
The metaverse is a $1 trillion opportunity according to Grayscale. The most expensive piece of virtual land was sold this week, after Republic Realm spent $4.3 million on a plot.
The October virtual festival in Decentraland drew in 50,000 attendees who claimed a total of 11, 204 NFTs.
Sports clubs are diving as well. Manchester City and Sony have formed a partnership to build a virtual world. Adidas said it would expand its activities in the metaverse after teaming up with a digital currency exchange.
The co-owners of the Gemini exchange said they raised $400 million in a funding round to help build their own metaverse, and that they had purchased a plot of virtual land.
Business Insider has an original article.
