Metaverse Land Worth $106M Traded the Previous Week: DappRadar
DappRadar Reports Trade of Metaverse Land Worth $106M
On Nov. 30, the decentralized application (DApp) analytics company reported, "There was a boom in The Sandbox, Decentraland, CryptoVoxels and Somnium Space's activity between Nov. 22 and Nov. 28." This 'booming' brought in a compounded $105.8 million worth of trading volume between them including more than 6,000 traders.
DappRadar posted, "Undoubtedly, Metaverse land is the next huge success in the NFT space. Issuing record sales numbers & round the clock increasing NFT prices, virtual worlds are the new top commodity in the crypto space."
The Sandbox portrayed the lion's share of volume worth $86.56 million, Decentraland accounted for a total of worth $15.53 million, while CryptoVoxels and Somnium Space commanded $2.68 million and $1.1 million respectively. Ethereum blockchain is the basis on which the four Metaverse projects are built. DappRader acclaimed, "The increased scrutiny towards virtual worlds such as The Sandbox and Decentraland began with Facebook's relaunching as Meta."
The blog post conveys, "Nevertheless, this is only the tip of the iceberg bumping the term Metaverse into the mainstream. Virtual worlds carry such limitless potential, and we're just beginning to see the full array of use cases for metaverse land."
A Chain Reaction of Several Companies
Yat Siu – the convenor & co-founder of Sandbox's parent company Animoca Brands addressed Cointelegraph saying, "Facebook in an attempt to usurp narrative of the Metaverse caused a chain reaction for other companies not in Web3 (such as Microsoft) and will announce their Metaverse strategies creating mass interest and awareness."
Siu contradicts, "Meta is an appeal to the more coherent, user-built environment of The Sandbox." On November 23, 2021, Decentraland witnessed the major NFT land sale over the last 30 days, with the virtual world's Fashion Street District selling for 618,000 MANA tokens ($2.7 million at current prices.