Analyze Q1 Metaverse NFT Report Card; Otherdeed saw a 200% increase in…

• Otherdeed saw over a 200% increase in virtual land sales in the first quarter of 2023.
• Metaverse NFTs witnessed more sales in the first quarter of 2023 compared to 2022.

As much as you may have wanted the conversation around Non-Fungible Tokens (NFTs) to go away, the topic is here to stay. More recent data has also emerged to underline the remarkable expansion.

The latest report from DappRadar is a stark reminder of the impressive progress made by NFTs in the first quarter. The growth, especially in the Metaverse NFT arena, shows how they rule.

Otherdeed leads Metaverse land sales

According to a recent report by DappRadar, the first quarter of 2023 witnessed an impressive increase in digital land trade volume, with a staggering 277.12% increase of $311 million.

The growth is remarkable and marks the most lucrative quarter for NFTs and virtual worlds since the May 2022 Terra Luna crash.

Source: DappRadar

Furthermore, the number of land trades reached an all-time high of 146,690, representing an incredible increase of 83.56% from the previous quarter.

These numbers clearly show the growing popularity and huge potential of digital land, making it an exciting time for the Metaverse NFT community.

In terms of the number of sales, Otherdeed emerged as the leader, with an impressive number of 65,399 – a remarkable increase of 138.80% from the previous quarter of 2022, making it the highest ever recorded.

In contrast, The Sandbox and Decentraland were far behind in fourth and seventh place respectively, which indicates that Otherdeed has established itself as a significant player in the digital plot market.

These statistics underscore the growing importance of Otherdeed and highlight the potential of the metaverse NFT market.

Source: DappRadar

Metaverse NFT fashion collection top seller

The report from DappRadar also highlighted a general increase in sales of Metaverse NFTs, particularly NFT fashion collections. The study revealed that NFT fashion collections generated a whopping $366.4 million in volume and 293,399 sales figures.

Among the most successful NFT fashion collections was Adidas Originals into the Metaverse, which boasted an all-time trade volume of $144 million and 47,399 sales.

However, in the first quarter of 2023, the landscape of top NFT fashion collections changed, with the 10KTF collections now dominating the market and accounting for 74% of the entire trading volume of NFT fashion collections.

Despite the prevailing sentiment in crypto, Metaverse NFTs have found their groove. As the conversation around Web3 gathers momentum and more funds pour into the sector, metaverse NFTs and NFTs as a whole could see further growth in the months ahead.

These recent statistics from DappRadar serve as proof of the potential of Metaverse NFTs, highlighting their ability to generate significant trading volumes and capture the attention of investors and enthusiasts alike.

As the metaverse space evolves and matures, we can expect to see even more exciting developments in NFTs.