Investments are pouring into the metaverse, more land is being sold than ever before.
The metauniverse is gaining momentum in 2023. According to DappRadar , virtual land trade reached an all-time high in the first quarter of 2023. A total of 147,000 trades were made, with Otherside and MG Land accounting for 75% of all land sales.
In addition, the volume of trade in virtual worlds is growing. In the first quarter of 2023, 311 million dollars were sold in virtual worlds. This is 277% more than in the fourth quarter of 2022.
So, as virtual worlds launch their initiatives for 2023, money continues to flow into the metaverse sector.
In fact, $502 million was invested in blockchain gaming and metaverse projects in the first quarter of 2023.
New Year’s high
The virtual market is just flying right now. Moreover, this record quarter was dominated by two projects – Otherside and MG Land. First, there’s the new wave of hype surrounding Yuga Labs’ Otherside. The reason for the excitement is the upcoming “second trip”, which will take place on March 25.
Essentially, the “second journey” will be a live event where Otherside NFT holders can immerse themselves in the Otherside metauniverse. Otherside’s land NFTs are known as “Otherdeeds” and in the first quarter of 2023, trading volume on the platform was $222 million.
Next, MG Land is a rising rival in the metaverse. Indeed, this 2D virtual world is available on PC and mobile devices and allows users to rent land and build their own customized metauniverse.
For example, you can monetize your MG Land, hosting games and events, and even press conferences and community calls. In addition, the platform supports social interaction, allowing users to meet friends, chat and play games together. The platform even supports all NFTs on BSC, Ethereum, Polygon and Solana.
As a result, MG Land is now the leading virtual world with almost US$60 million in trading volume and 45,219 land sales.
The best of the rest
Also gaining popularity is Createra Genesis Land for the Createra metaverse. This platform is designed for creators and allows users to create, consume and monetize their content using the tools provided. Following a $10 million Series A funding round led by Andreessen Horowitz (a16z), Createra is on its way to becoming a major player in the metaverse space. During the first quarter, the platform collected $14 million in trading volume and 6,308 total sales.
Check out this page to learn more about the new virtual worlds.
