Metaverse NFT Volume Tops $300 Million This Year, Says Report

 new DappRadar NFT report indicates that trading volume for digital land NFTs grew 277.12% in Q1, 2023, reaching $311 million. Most land sales came from Yuga Labs’ Otherside metaverse NFTs, Otherdeeds, which topped $222 million in trading volume. In February 2023 alone, Otherdeeds saw $137 million in trading volume, increasing over 200% from January. The surge coincided with the launch of Sewer Pass. Otherdeeds is also dominating March with a trading volume of $47 million, which represents 95% of all digital land sales. Runners-up in Q1 include the recently-launched MG Land, with a trading volume of $60 million. MG Land allows users to build a digital space to socialize and engage in many activities. The Sandbox recorded $3.5 million in trading volume. Trading volume for Decentraland totaled $1.9 million year-to-date. Decentraland wallets have increased by 16% to 1,490.

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