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Metaverse NFT Trading Volume Hit New All-Time High, DappRadar Says

Non-fungible token (NFT) trading increased across virtual worlds in the first quarter of 2023, according to a DappRadar report published Thursday, totaling $311 million so far this year.

According to the report, virtual land trading reached an all-time high this past quarter with 147,000 trades, thanks to platforms such as Yuga Labs' Otherside and MG Land that dominated the space.

Otherdeed NFTs, which are linked to land in the Otherside metaverse, registered $222 million in trading volume in the first quarter – a 237% increase from the previous quarter. According to the report, one Otherdeed NFT sold for 186 ETH (about $2.85 million at the time) – the highest recorded sale for virtual land last quarter. Earlier this month, Yuga Labs announced the official date of its "Second Trip" for holders of Otherdeed NFTs, which likely contributed to its uptick.

(By Rosie Perper, Cam Thompson)

Metaverse NFT DappRadar
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