Digital currency investment company Grayscale published a report on the metaverse last week and mentioned that it could quickly become a $1 trillion market. Another US-based global investment bank, Morgan Stanley (NYSE:MS), also made statements that see the metaverse as an investment area for the coming periods.
Among the recent comments on the metaverse, Bank of America strategist Haim Israel said that the metaverse could allow cryptocurrencies to be legitimized as a currency. Said it would help.
The strategist believes that Metaverse has a significant stake in the future of the crypto economy. It is thought that as the virtual reality universe expands, the demand for stable crypto assets will increase even more.
The Bank of America strategist believes that the active involvement of traditional finance companies in the metaverse, which is still in its infancy, will take the adoption of crypto money to very different dimensions.
More than $100 million of virtual plots were sold on Metaverse last week.
In the latest developments regarding Metaverse, the fact that social media giant Facebook changed its name to "Meta" seemed to be the biggest proof of how important this area was. In addition, the virtual reality platform Decentraland, which operates in this universe, recently saw a virtual real estate sale for $ 2.4 million. While this sale attracted a lot of attention in the market, the virtual property sold for $ 4.3 million in another metaverse-based project, The Sandbox, raised the bar quite high.
Data from DappRadar showed that in the last week of November, metaverse projects had sales of over $100 million as virtual land NFTs. It was stated that more than 6,000 investors participated in these sales, which concentrated on 4 large metaverse projects such as Decentraland, The Sandbox, CryptoVoxels and Somnium Space, and generated a transaction volume of 105.8 million dollars.
As detailed in the report, most of these sales ($86.56 million) were made on The Sandbox platform. While sales of 15.5 million dollars were made on the Decentraland platform, NFT sales were made in CryptoVoxels for $ 2.68 million and Somnium Space for $ 1.1 million.