SNEAK PEEK
- Virtual real estate NFT sales will have surpassed $1.4 billion, a 180% increase year on year.
- In 2022, otherside land is estimated to account for 75% of digital real estate sales.
- It is expected that overall secondary sales on platforms will increase by $60 million.
Digital real estate NFTs rose with $1.4 billion in sales and an 18% year-on-year increase. The Sandbox Game has a LAND market cap of $167 million or more across all metaverse platforms, demonstrating the value and potential of digital environments in the NFT industry. Nonetheless, Q4 2022 had the lowest overall sales since Q1 2021. The coin and subsequent sales of Otherside assets generated the majority of the 2022 volume in Q2. Otherside surpassed $900 million in total volume (main and secondary sales) in less than 90 days after the initial mint.
Virtual Real Estate #NFTs soared with $1.4B in sales & 180% YoY growth. @TheSandboxGame boasts $167M+ LAND Market Cap across all #metaverse platforms, proving the value and potential of virtual worlds in the NFT space.
Read on for some more stats 🧵 courtesy of @ParcelNFT pic.twitter.com/jepOvfS58I
— The Sandbox (@TheSandboxGame) January 20, 2023
11% of total secondary volume sales, indicating the growing appeal and value of digital worlds. The land market capital of Decentraland $452,435,672 ; Otherside $251,300,000. Land market capital of The Sandbox is $167,282,366; NFT World has $9,672,873 land market capital. The Somnium Space $8,575,051 of market capital.
The industry’s greatest level of property hoarding is 54%. We appreciate the fact that LAND owners believe in the long-term value of their properties. In 2022, Otherside contributed for around 75% of digital property volume sales, followed by The Sandbox (11%), Decentraland (5%), NFT Worlds (8%), and Somnium Space (1%).
More than 17 thousands unique owners are contributing to the decentralization of The Sandbox environment and its filling with diverse experiences created by the network of artists and innovators. It is anticipated that there will be another $60 million in total secondary sales on other planets.
Property ownership measures are important for understanding how the world’s total land supply is distributed. It is also a good predictor of user uptake. the total amount of distinct wallets that contain digital property on each planet. This started with Decentraland’s first land sale in 2018 and persists to the present day. Because a wallet might store land from many worlds, there may be multiple counts if the total number of wallets throughout all worlds is included.
