$106M worth of Metaverse land sold last week: DappRadar

[waybesuricata]

Four blockchain-based Metaverse projects generated more than $100 million worth of virtual land NFT sales last week according to data from DappRadar.

A Nov. 30 post from the decentralized application (DApp) analytics firm reported that between Nov. 22 and Nov. 28 activity was “booming” on The Sandbox, Decentraland, CryptoVoxels and Somnium Space with a combined $105.8 million worth of trading volume between them from more than 6,000 traders:

“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.”
The Sandbox represented the lion's share of volume for the week with $86.56 million, Decentraland accounted for $15.53 million, while CryptoVoxels and Somnium Space generated $2.68 million and $1.1 million each. All four of these Metaverse projects are built on the Ethereum blockchain, although projects on other chains such as Solana are beginning to gather pace too.

DappRader noted that “the wave of attention towards virtual worlds like The Sandbox and Decentraland started with Facebook’s rebranding to Meta.”

“However, this is only the tip of the iceberg that pushed the term Metaverse into the mainstream. Virtual worlds carry such enormous potential, and we’re just beginning to see the full array of use cases for metaverse land,” the blog post read.

Source and continuation of news: https://cointelegraph.com/news/106m-worth-of-metaverse-land-sold-last-week-dappradar

[codehash]

It is not news that concerns small investors. Only big money will change hands here. If this continues, the industry will become a monopoly. A monopoly market shaped in the hands of someone. This sounds awful. It's scary news. What can a small investor do in a market that has turned into a monopoly? Damn whales. They are ruining everything.

[vitek146]

Sebastien Borget, the co-founder of The Sandbox, described the commercial activity within virtual worlds as a new nation forming and said the NFT-based economy would outgrow the real-world one within a decade. There are, however, many in the fledgling industry who warn of dangers ahead for investors." I expect that there'll be a crypto winter in the next couple of months, the whole NFT boom will explode and then all the value will absolutely collapse," said Ben Nolan, founder of the virtual world Cryptovoxels. So 2022 a year of metaverses and NFT boom.