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Metaverse NFT projects are booming

The NFT industry has been thriving recently, and according to sources, there has been a surge in interest in metaverse initiatives.

As per some statistics, numerous decentralised metaverse initiatives are heating up, with major companies joining the field. Meta (Facebook’s parent corporation) delivered a live stream update of its vision for artificial intelligence (AI) and the metaverse last week. Recent initiatives such as NFTWorlds and Webbland were also among the five top non-fungible token (NFT) series in terms of sales volume. 

NFTWorlds, a project comprising 10,000 plots of virtual land on ETH, had sales volumes surpass USD 52 million in February, representing a more than 2,000 percent increase in monthly sales numbers from November. On Tuesday, the series was the third-best-selling in 24 hours, outselling top series such as Axie Infinity and Bored Ape Yacht Club. Other projects, such as BYOLand, Treeverse, and Wolf Game, had high sales volumes in the last days of February.

Another development in this direction came when JPMorgan became one of the first large banks to enter the metaverse in February. It purchased land on blockchain-enabled Decentraland.

Crypto Voxels, another decentralised metaverse project, recently declared a land cap of 70,000 plots. Axie Infinity, a legendary NFT series, has become the first to achieve USD 4 billion in sales volume. By introducing NFTs as playable characters in a video game, Axie Infinity soared in popularity and helped start the video game play-to-earn function.

Meta’s continuing interest is also influencing interest in the decentralised metaverse. Last week, the social media giant utilised a live-streamed event to deliver updates on an impending AI-enabled voice assistant application called “CAIRaoke” (pronounced karaoke) and to define how AI would be integrated into the metaverse.

 

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