Metaverse is likely to be the next big hit in the non-destructible token space, with a recent post from DApp analytics firm stating that activity between Last November 22 and last November 28 was booming on Sandbox, Decentraland, Crypto Voxels and Somnium Space with a total of $105.8 million in trading volume between them from over 6000 traders.
4 Blockchain-based Metaverse projects generated more than $100 million in non-destructible token sales for virtual earth last week according to data from Dub Radar.
Sandbox accounted for the lion's share of volume for the week at $86.56 million, with Decentraland's share at $15.53 million, while Crypto Voxels and Somnium Space earned $2.68 million and $1.1 million. million dollars each.
All four of these metaverse projects are based on the Ethereum blockchain, although projects in other chains like Solana are starting to grow as well.
Dab Radar notes that the wave of interest in virtual worlds such as The Sandbox and DeCentraland has begun by rebranding Facebook to META.
However, this is only the tip of the iceberg that has pushed the term metavirus into the mainstream. Virtual worlds hold such huge potential, and we're just starting to see a whole host of use cases for the Land of Metaverse, says the blog post.
By producing record sales and ever-increasing prices for non-destructible tokens, virtual worlds are the top new commodity in the crypto space.
Commenting on Sandbox's massive rise in sales of non-perishable token land, Yat Seo, chairman and co-founder of parent company Animoca Brands, told Coin Telegraph: Facebook to exploit the metaverse narrative has caused a chain reaction of other non-Web 3 companies (such as Microsoft) to also advertise their metaverse strategies and create public interest and awareness.
While not everyone really understands what digital property rights really mean, there are enough of them interested in it now that it has led to an increase in awareness online," Seo added. Sandbox has taken over the real metaverse narrative as you can really own a piece of it, and this is also somewhat reflected in the price of the token.
