Metaverse continues to grow with the support it receives from many industry players. Companies like Grayscale Investments claim that the metaverse will become a $1 trillion industry. Of course, it's not just companies that rely on the metaverse. Countries also do not want to lag behind in this area. The Spanish government pressed the button for the metaverse to gain momentum in the country. Decentraland may also be the party that puts a smile on its face after the decisions taken by Spain.
The Spanish government plans to further support the development of metaverse-related projects. There are some incentive and grant programs for this and the total amount allocated to such grants is determined as 4 million dollars. Authorization for these projects was given to the Ministry of Economy and Digital Transformation. For this, there is no need to develop projects only in Spain. Those who develop metaverse projects in the European Union can also have the same right. In addition, women should be involved in 25 percent of the projects.
According to AMB Crypto, this could be a big boost for Decentraland in Spain. Decentraland has been losing momentum lately. We can say that LAND land sales have been decreasing every day since January of this year. About 6 months ago, sales hit an all-time high, seeing $6 million. As of June, total sales fell below $690,000. We see this in Dune's chart comparing Sandbox and Decentraland.
You can see the comparison of Decentraland vs Sandbox land sales in the chart below.
LAND land prices in Decentraland are also on the decline. The lands, which saw 6 thousand dollars in January, are now at the level of 3 thousand dollars. You can see the average sales prices of the lands in Decentraland on a monthly basis in the chart below.
When we look at the sales figures, we see that as of July 16, 371 plots were sold in July. The downturns here and Decentraland's difficult period can be overcome with Spain's decision to work with Decentraland. For now, of course, there is no official information on the subject. In the coming days, we will see together whether Spain will revive Decentraland with its metaverse plan.