According to the research, digital land gross sales reached an all-time high of 147,000 transactions in the previous quarter, owing mainly to the domination of platforms like Yuga Labs’ Otherside and MG Land.
Among these, the transaction volume of NFTs associated with the Otherside metaverse digital land in Q1 was 222 million US dollars, a 237% increase from the previous quarter.
In addition, $417.5 million was invested in blockchain video games and metaverse ventures in the first quarter of 2023, according to the research.
NFTs have become increasingly important as a way of ownership and investment in the digital world as it continues to expand and grow. According to the paper, the pattern of digital land sales and NFT transactions will continue to expand as more players enter the market and discover new applications for NFTs.
The DappRadar research emphasizes the rapid expansion of the Metaverse and its accompanying sectors, with digital land sales and NFT purchasing and selling leading the way.