Within a week (November 22-November 28), the virtual land sales revenue exceeded 100 million U.S. dollars, and Metaverse seemed to become profitable. Therefore, the meta-universe concept is not a single platform. Just like Facebook’s move to change its name to Meta is only a small part of the metaverse. The metaverse has been pushed to the mainstream. It involves many sectors and fields and is growing rapidly.
What is virtual land?
Virtual land is the real estate in the metaverse. Therefore, each piece of land is given a unique and non-replicable non-homogeneous dai coin (NFT) to distinguish each piece of land and each transaction. Therefore, land suppliers and users can buy/sell in the primary/secondary market of the platform, and use virtual real estate for residential or commercial use.
Within one week, the four metaverse projects had a combined revenue of 106 million U.S. dollars in virtual land sales. So mainly The Sandbox and Decentraland. The sales of CryptoVoxels and Somnium Space platforms have surged, attracting approximately 6,000 traders.
Therefore, The Sandbox has the highest total sales ($86.56 million). At the same time, The Sandbox’s closest competitor is Decentraland ($15.53 million). And compared with competitors. CryptoVoxels (US$2.68 million) and Somnium Space (US$1.1 million) have relatively few transactions and traders.
November 30. A piece of virtual land in Sandbox sold for $4.3 million. Therefore, a new record of Metaverse virtual land transactions was set.
What can virtual land do?
Said He Weifeng, the founder of Meta Universe Ecological Education Platform-Asia Allied Trust Group. “Buy virtual land on different platforms. It is understandable to buy land in different cities. Each platform has its own pricing and measurement standards. If you want to buy, you need to exchange the platform’s exchange rate for the locally recognized dai currency. For example, Sandbox’s “Sand” “. Decentraland’s “Mana”, etc. Subsequent pledge or transfer of land, or lease can generate “value.”
Since the invention of blockchain technology. Obtaining ownership of virtual assets is a form of transaction. The transaction is in the virtual world, and the payment mode is also digital or encrypted currency.