The sale of Virtual land
in the metaverse dominated the NFT market
The metaverse is a
virtual reality online experience
that uses blockchain technology and NFTs to pay for and own internet-based goods.
The demand for digital land
exceeded all other items, art, and collections
, according to NFT and metaverse sales during the past week.
Out of almost $300 million sales in NFT over the past week. Almost a quarter has been for
digital land in The Sandbox metaverse.
Each of the
top ten NFT metaverse sales
during the last week was for in-game digital land across the top five collections.
In the metaverse when you make an in-game purchase, you actually
own the item and are free to hold, trade or sell it
Over the last week,
the Sandbox received $70.5 million
,making it the most profitable metaverse collection.
In June, a virtual real estate investment firm surpassed Decentraland's record for the
most expensive digital land
tract ever auctioned, investing $913,000.
Sandbox and Dentraland maintained their positions as the top two collections traded on
NFT marketplace Opensea
throughout the past week.