According to a report from DappRadar, the first quarter of 2023 saw a steady increase in interest in Metaverse. In just a few months, sales of virtual land reached a turnover of $311 million.
The analysis company DappRadar has published a report on the situation in the field of metaverses. According to the study, in the first quarter of 2023, virtual land trade reached an all-time high.
In three months, users closed 147,000 deals worth $311 million, 75% of which were Yuga Labs Otherside and MG Land. Otherdeed’s NFTs, which are associated with the land in the Otherside metaverse, had trading volume of $222 million, up 237% from the prior quarter. DappRadar reports that the largest trade on Otherside was for 186 ETH (about $2.85 million at the time).
One of the reasons for the growth of the NFT market and meta-universe is the policy of the Blur marketplace, which sends tokens to users who are actively trading on the platform. Also, the upcoming fashion week in the Decentraland metaverse had a positive impact on the industry. The event increased the volume of transactions on the platform by 63%.
Additionally, according to DappRadar, $502 million was invested in blockchain gaming and metaverse-related projects in Q1 2023.
Author:
Grigory Shcheglov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
