Report: Metaverse’s NFT transaction quantity reached US$311 million within the first quarter

In line with a DappRadar report printed Thursday, NFT transactions within the Metaverse noticed development within the first quarter of 2023, totaling $311 million thus far this 12 months.

The report famous that digital land gross sales reached an all-time excessive of 147,000 transactions prior to now quarter, largely because of the dominance of platforms resembling Yuga Labs’ Otherside and MG Land.

Amongst them, the transaction quantity of NFTs associated to the Otherside metaverse digital land in Q1 was 222 million US {dollars}, a quarter-on-quarter improve of 237%.

The report additionally revealed that $417.5 million was invested in blockchain video games and metaverse tasks within the first quarter of 2023.

Because the digital world continues to develop and broaden, NFTs have gotten increasingly necessary as a way of possession and funding within the digital world. The report means that the development of digital land gross sales and NFT transactions will proceed to extend as extra gamers enter the market and uncover new use circumstances for NFTs.

The DappRadar report highlights the speedy development of the Metaverse and its associated industries, with digital land gross sales and NFT buying and selling main the best way.