The MetaVerse Land Rush

Digital land is in high demand in what is already a highly lucrative market as the prior ( NFT) nonfungible token and Metaverse sales figures show.

Data from industry metrics platform indicates that there has been more than $300 million in NFT sales over the past week. Of that total, almost a quarter has been for digital land in The Sandbox metaverse. 

Over the past week, each one of the top 10 NFT metaverse sales across the top five collections were for in-game digital land.

The Sandbox traded a total volume of $70.5 million for 4,433 assets over the past week — making it the metaverse collection that raked in the most cash.

Although Decentraland ranked in second place for the total volume traded, the top 10 most expensive metaverse NFT sales during the past week, ranging from 225,000 MANA ($758,250) to 50,000 MANA ($220,000), were all on the Ethereum-based virtual world. Decentraland traded $6.6 million in volume for 399 assets over the past week.

Meanwhile, over the past seven days, CryptoVoxels traded around $650,000 in volume for 81 assets; Somnium Space traded $492,000 for 40 assets; and SuperWorld traded $227,600 for 506 assets — all of their top trades were also for virtual land.

The metaverse is an immersive virtual reality experience of the internet that uses blockchain technology and NFTs to pay and own items online. For example, when you make an in-game purchase, you actually own the item and are free to hold, trade or sell it.

According to DappRadar, $106 million worth of metaverse land was sold among more than 6,000 traders in the week ending on Thursday. “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.

In June, a virtual real estate investment firm broke Decentraland’s record for the most expensive digital land plot ever sold after spending $913,000 on 259 parcels.

On NFT marketplace Opensea, Sandbox and Dentraland held their spots as the top two collections traded on the platform over the past week. 

Both Decentral land and the Sandbox are virtual worlds which are made for people to hang out in. They are also made with fixed amount of space or land in which players can own land or own space and build items for the other players to enjoy. The two games show to success and potential for digital land in games and the value in well made user experiences and game worlds. We expect more games to capitalize on the idea of NFT land sales and with the popularity and financial success of these two games we see 2022 as year of big growth and expansion of Play2Earn land sales.

Our Outlook here at IncomePlayer is for the next phase of this digital land boom to take place in Farm Land and Digital Farm Land ownership. Right now the top Play2Earn farming games are all planing future land sales and land ownership. The build out of this is in place now for many of these Play2Earn farming games and we expect many of these features to ship in 2022. The future is very bright for game land and we expect the growth to only continue.

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