Metaverse NFT Sales Show Signs of Revival in August

The metaverse sector is showing early signs of recovery as NFT sales tied to virtual worlds jumped 27% in August compared to the previous month. DappRadar’s report, published on Thursday, revealed that $6.5 million was traded across metaverse platforms last month. While this is a slight dip from July’s $6.7 million, the number of sales climbed to 13,927—up from 10,900—indicating a rise in user engagement.

Analyst Sara Gherghelas pointed out that this marks the second month of steady activity, suggesting that users are “slowly sneaking back into virtual worlds” like Sandbox, Mocaverse, Otherside, and Decentraland. After the initial hype in 2021 and 2022, interest declined in 2023. 

However, this recent activity demonstrates that the sector is far from dead, with January still holding the highest sales of the year at $7.7 million and April and May recording over 19,000 trades each.

Platforms Focusing on Long-Term Infrastructure

Top metaverse platforms are prioritizing infrastructure and community-building over speculative growth. Sandbox, a subsidiary of Web3 firm Animoca Brands, hosted its largest-ever land auction in July, highlighting sustained demand for digital assets. Mocaverse is preparing for the rollout of its Moca Chain, with a testnet expected later this quarter, aimed at enhancing scalability and network performance.

Other major platforms are also making upgrades to strengthen their ecosystems. Otherside, developed by Yuga Labs, released AI-driven world-building tools in August, helping users design immersive experiences. 

Meanwhile, Decentraland upgraded its 3D engine to improve performance, and HYTOPIA revamped its token system, replacing TOPIA with HYBUX while expanding its creator fund to encourage content development. Gherghelas emphasized that “while volumes remain modest, leading platforms are shifting toward long-term infrastructure, identity, and creator tools.”

Metaverse Projects Still in Development

New projects continue to emerge, reflecting sustained investment in virtual worlds. Infinite Reality, an AI startup, acquired the music streaming service Napster in March. The company plans to develop a music-focused metaverse, blending entertainment with social experiences in novel ways. 

This signals an ongoing push to diversify use cases for the metaverse beyond gaming.

Similarly, DTTM Operations, owned by Donald Trump, filed trademarks in February to build a metaverse and NFT marketplace centered on the President’s brand. 

These developments demonstrate that despite past slowdowns, companies are still actively exploring the next phase of metaverse growth.