Virtual land in the metaverse is still a big thing in the NFT market. As a matter of fact, buying metaverse land like that in The Sandbox and Decentraland is often a status symbol, as proved by the investors desperate to become Snoop Dogg’s metaverse neighbour.
The Sandbox Metaverse Land Tops The Ranking of NFT Collections on Opensea
At the present time, The Sandbox is the number one NFT collection on Opensea’s ranking for the past seven days. To clarify, this points to people buying and selling plots of virtual land on the metaverse platform at an incredible rate.
As a matter of fact, buyers have spent over 13,000 ETH (about $61 million) on Sandbox land in the past week. Significantly, that is over twice as much sales volume as The Bored Ape Yacht Club over the same time period. BAYC sits at number two on the list.
While The Sandbox is certainly the best selling, it is not the only metaverse enjoying a big sales period. Indeed, Decentraland also ranks in the top 10 of the same list, coming in at number 7. What’s more, virtual plots sold for millions of dollars in The Sandbox, Decentraland and Axie Infinity last week.
The Metaverse Continues To Flourish
Virtual land continues to make waves in the NFT market. All in all, the surge in metaverse land sales is partly led by some big names. For example, Adidas recently purchased land in The Sandbox. The fact that major companies and brands are getting involved is a great sign for the metaverse. Besides the land itself, we’ve also recently seen huge growth from tokens attached to metaverse platforms.
All in all, it seems that Facebook’s rebrand to Meta started a major wave of interest in the metaverse that is going strong.