Investment is pouring into the metaverse and more land is being traded than ever before.\u00a0<\/strong><\/em><\/p>\n The metaverse is gathering momentum in 2023. According to DappRadar<\/a>, virtual land trading reached an all-time high in Q1 2023. In total, there were 147,000 trades, with Otherside and MG Land accounting for 75% of all land sales.\u00a0<\/p>\n Furthermore, trading volume for virtual worlds<\/a> is on the rise. In Q1 2023, $311 million was traded in virtual worlds. That\u2019s a 277% increase from Q4 2022.\u00a0<\/p>\n Thus, as virtual worlds launch their initiatives for 2023, money continues to pour into the metaverse sector.\u00a0<\/p>\n In fact, $502 million was invested into blockchain gaming and metaverse projects in Q1 2023.\u00a0<\/p>\n The virtual market is absolutely flying at the moment. What is more, this record-breaking quarter was dominated by two projects \u2013 Otherside and MG Land. Firstly, there is a fresh wave of hype surrounding Otherside, by Yuga Labs<\/a>. The reason for the hype is the forthcoming \u201csecond trip\u201d, which takes place on March 25th.\u00a0<\/p>\n In essence, the \u201csecond trip\u201d will be a live event, where Otherside NFT holders can dive into the Otherside metaverse. The land NFTs for Otherside are known as \u201cOtherdeeds\u201d, and the platform registered $222 million in trading volume in Q1 2023.\u00a0<\/p>\n Next, MG Land is a rising contender in the metaverse stakes. Indeed, this 2D virtual world is available on PC and mobile, and allows users to rent land and build their own customized metaverse.<\/p>\nNew year buzz<\/strong><\/h2>\n
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