Analyzing Q1 Metaverse NFT report card; Otherdeed saw 200% increase in…

ambcrypto.com:

As much as you may have wished the conversation around Non-Fungible Tokens (NFTs) to fade away, the topic is here to stay. Also, recent data has emerged to underscore its remarkable expansion.

The latest report by DappRadar is a stark reminder of the impressive strides made by NFTs in the first quarter. The growth, particularly in the Metaverse NFT arena, shows how they reign supreme.

According to a recent report from DappRadar, the first quarter of 2023 witnessed an impressive surge in trading volume for digital land, 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 Terra Luna crash in May 2022. 

Source: DappRadar

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

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

Regarding sales count, Otherdeed emerged as the leader, with an impressive tally of 65,399 – a remarkable surge of 138.80% from the previous quarter of 2022, making it the highest ever registered.

In contrast, The Sandbox and Decentraland lagged far behind in fourth and seventh place, respectively, indicating that Otherdeed has established itself as a significant player in the digital land market.

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

Source: DappRadar

The report by DappRadar also highlighted a general increase in the sales of Metaverse NFTs, particularly NFT fashion collections. The study revealed that NFT fashion collections