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December 4, 2021

Popular Metaverse Altcoins See $100,000,000 Worth of Virtual Real Estate Sales in One Week: Report

By Daily Hodl Staff

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.

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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.

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SAND is exchanging hands at $5.86, 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.

Source: DappRadar

According to the report, about 6,000 traders participated last week in the buying frenzy across all four altcoins.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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