Report: In the first quarter, the NFT trading volume of YuanUniverse reached 311 million US dollars
According to reports, according to a DappRadar report released on Thursday, NFT transactions in Metaverse increased in the first quarter of 2023, totaling $311 million so far this year. According to the report, due to the dominance of platforms such as Yuga Labs’ Otherside and MG Land in this field, virtual land transactions reached a record high of 147000 transactions in the past quarter. On the other hand, the transaction volume of NFT related to land in the Otherside metauniverse in the first quarter was $222 million, an increase of 237% compared to the previous quarter.
Interpretation of this information:
The world of non-fungible tokens (NFTs) in the Metaverse is experiencing significant growth, with transactions totaling $311 million in the first quarter of 2023. A report by DappRadar shows that virtual land transactions reached a record high of 147,000 in the past quarter, largely due to Yuga Labs’ Otherside and MG Land dominating the space. The report also reveals that NFT transactions related to land in the Otherside metauniverse saw a 237% increase, reaching $222 million.
This data suggests that there is a growing interest in virtual land ownership and investment in the Metaverse. The Metaverse refers to a virtual shared space, where people can interact with each other and digital objects in a simulated environment. This space is already being used for virtual events, gaming, and social media. As more people spend time in the Metaverse, the demand for virtual real estate is increasing.
The dominance of Yuga Labs’ Otherside and MG Land in the virtual land market highlights the emergence of key players in this sector. As the Metaverse develops, we can expect to see more companies and platforms vying for dominance in this space.
The significant increase in NFT transactions related to land in the Otherside metauniverse indicates that there is a strong market for virtual real estate in the Metaverse. NFTs, which are unique digital assets that use blockchain technology to verify ownership and authenticity, have opened up new possibilities for virtual real estate ownership and investment.
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