“After the cryptocurrency, the NFTs, then DeFi, then Play-to-Earn Tokens and now the buying of plots in the metaverse are the most wanted activities in the blockchain arena. The sale of the latter has outperformed the sales of all the former in the last 7 days.”
The year started with a bang for the NFTs and the craze was so high that even the most simple NFTs were being bought and sold for millions of dollars. The DeFi entered next and now the Metaverse has become a huge deal and is the most talked about topic in the crypto community. The Metaverse giants such as Axie Infinity (AXS), Sandbox (SAND) and Decentraland (MANA) have increased by more than 5x in a few months and their sales are off the charts.
In the last 7 days the sales by these metaverse projects have increased drastically and have outperformed the sales of NFT and other products in the crypto space. Out of the total $2.3 Trillion market cap of crypto industry, the market cap of Play-to-Earn digital assets has reached $25 Billion. Axie Infinity being the highest by market cap followed by SAND and MANA. The virtual plot sales in Sandbox and Decentraland are beating the sales of various NFTs such as cryptopunks by a margin of around $10 million in the last 7 days.
The plot revenue sales of SAND in the last 7 days has been around $70 Million whereas Decentaland’s land sale is around $6.7 Million. Though cumulative sales of SAND has been almost 10 times that of MANA, the highest land sold on MANA was for $758K and on SAND was up to $68K.
Disclaimer: The article is just to provide information and shouldn’t be considered as any financial advice. It is advisable to conduct thorough research before investing in any cryptocurrency.
Photo by – mohamed_hassan on Pixabay