Virtual real estate is booming in the metaverse as popular altcoins saw millions of dollars in land sales over seven days.
A new report published by DappRadar finds that sales of virtual non-fungible token (NFT) land on leading metaverse crypto assets The Sandbox (SAND) and Decentraland (MANA) totaled just over $100 million.
SAND, a blockchain-based gaming world where users can buy, sell, and trade digital assets, saw a staggering $86.5 million in NFT land sales by itself while decentralized virtual gaming world MANA saw $15.5 million in land sales.
“The Sandbox is leading the pack with both the highest number of traders and sales. It also had the highest trading volume with more than $86 million.
Decentraland follows in second place with more than $15 million traded for land plot NFTs.”
Though SAND handily outsold MANA in an overall sense, the highest-priced plot of land sold was Decentraland’s Fashion Street Estate, which went for $2.4 million on its own.
SAND is exchanging hands at $5.86, a 25% decrease from its seven-day high of $7.83 while MANA is trading for $3.80, a 26% decrease from its seven-day high of $5.15.
Other crypto assets that experienced significant land NFT movement were CryptoVoxels and Somnium Space, which saw $2.7 million and $1.1 million in sales respectively.
According to the report, about 6,000 traders participated last week in the buying frenzy across all four altcoins.
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