In accordance with a DappRadar report on Thursday, NFT transactions within the Metaverse noticed progress within the first quarter of 2023, totaling $311 million to date this 12 months.

The report notes that digital land gross sales hit an all-time excessive of 147,000 transactions within the final quarter, largely because of the dominance of platforms reminiscent of Yuga Labs’ Otherside and MG Land.

Amongst them, the transaction quantity of NFTs associated to the digital land of the Otherside metaverse within the first quarter was 222 million US {dollars}, a rise of 237% quarter-on-quarter.

The report additionally revealed that $417.5 million was invested in blockchain video games and metaverse initiatives within the first quarter of 2023.

Because the digital world continues to develop and broaden, NFTs have gotten more and more vital as a method of possession and funding within the digital world. The report means that the pattern of digital land gross sales and NFT transactions will proceed to extend as extra gamers enter the market and uncover new use circumstances for NFTs.

The DappRadar report highlights the fast progress of the Metaverse and its associated industries, with digital land gross sales and NFT commerce main the best way.