Virtual Land Purchase Accounts For Largest Percentage of Past Week’s $300 Million NFT Sales

Going by last week’s NFT sales figures and even those of the Metaverse, it is quite obvious that virtual land has grown in popularity, and is presently in very high demand.

According to data by NonFungible — the industry metrics platform, over $300 million worth of NFTs were sold last week. Interestingly however, the purchase of virtual land in the Sandbox Metaverse, represents almost a quarter of that total sales. With data showing that every single one of the NFT Metaverse sales (from across all 5 collections) that made top ten list in the past week, was for an in-game virtual land.

How The Metaverse Collections Ranked In The Past Week

Coming in first is the Sandbox. For just 4,433 assets, the Sandbox traded $70.5 million in total volume this past week — seeing it become the Metaverse collection that made the most money in the week.

Following far behind and in second place, is the Decentraland, which traded $6.6 million in total volume for 399 assets.

Third on the ranking is CryptoVoxels, trading nearly $650,000 in total volume for 81 assets. Then, Somnium Space traded $492,000 between 40 assets, and finally SuperWorld traded $227,600 in total volume, for 506 assets.

It is interesting to note that all the top trades of each of these collections were  for virtual land.

What’s The Deal With Getting A Virtual Land?

No doubt, there’s a buzz around owning a virtual land as can be seen from various reports. TheCoinrise reported that El Salvador is presently selling virtual land NFTs. Just last week also, someone paid $2.5 million for one on the Metaverse.

In fact, DappRadar confirms that $106 million worth of Metaverse land has been sold between over 6,000 traders in the week ending December 2. It is clear that Metaverse land is the next big thing in the NFT space, as figures don’t lie.

However, these individuals and firms are not crazy to spend so hugely on the trending thing. Virtual lands are quite capable of delivering ridiculously outsized  returns on investment due to their high demand and how they align with the rapidly growing virtual reality.