Metaverse virtual lands dominated NFT sales over the past week

NFT and Metaverse sales data from the past week shows that digital land is in high demand in an already very lucrative market.

Over the past week, NFT sales topped $300 million, according to industry metrics platform NonFungible. Of that total, almost a quarter are digital lands in the Sandbox metaverse.

In the past week, the top five of the top ten NFT metaverse sales were all digital lands in games.

In the past week, The Sandbox has traded a total of 4,433 properties worth $70.5 million -- making it the most cash-earning Metaverse series.

While Decentraland ranks second in terms of total transaction volume, the top ten most expensive Metaverse NFT sales over the past week, ranging from 225,000 MANA ($758,250) to 50,000 MANA ($220,000), were all on Ethereum-based virtual reality. In the past week, Decentraland traded 399 assets with a volume of $6.6 million.

Meanwhile, over the past seven days, CryptoVoxels traded around $650,000 across 81 assets, Somnium Space traded $492,000 across 40 assets, and SuperWorld traded $227,600 across 506 assets -- All of their top deals are also for virtual land.

Metaverse is an immersive internet virtual reality experience that uses blockchain technology and non-fungible tokens (NFTs) to pay for and own online items. For example, when you buy in-game, you actually own the item and can freely hold, trade or sell it.

In the week ending Dec. 2, $106 million worth of Metaverse land was sold among more than 6,000 traders, according to DappRadar. “Without a doubt, Metaverse Land is the next big thing in the NFT space. Outputting record sales numbers and rising NFT prices, virtual worlds are the new top commodity in the crypto space,” DappRadar said in a blog post at the time Indicated.

In June, a virtual real estate investment firm bought 259 lots for $913,000, breaking Decentraland's record for the most expensive digital lot sale ever.

On the Opensea NFT market, Sandbox and Dentraland have held the top two spots for trading over the past week.