According to a recent report from DappRadar, web3’s virtual world trade volume registered a 229% growth in February, returning to pre-Luna crash levels.
As DappRadar data reveals, the number of transactions in a single month doubled to reach 51,000. This growth was also fueled by investors, as the gaming and metaverse spaces jointly raised him $148 million.
According to the report, virtual land transaction volume has increased over the past few months and continues to grow in February.
The data show that virtual land transaction volume increased from $44 million in January to $145 million in February, marking a 229% growth. The last time his trading volume dropped was in November 2022. In December 2022 and January 2023, trading volume increased by 122% and 54% respectively.
Sales numbers, on the other hand, did not match the growth as much as transaction volumes. For example, the number of sales he had increased 103% in February to 51,300, but fell 19% in January.
The data shows that the gaming and metaverse space remained strong on the investment side, raising $156 million in January and $148 million in February.
Over 65% of the total was spent directly on games and the metaverse, worth over $71 million. Infrastructure he received second at 26.1%, about $46 million.
NFT returns to pre-winter levels.
The NFT market also showed growth and parallelism in the metaverse and games, returning to pre-Luna crash levels in February.
NFT trading volume grew 117% in February to exceed $2 billion. However, despite the surge in transaction volume, NFT sales fell by 31.46%, dropping to 6.3 million in February.
The discrepancy between sales numbers and trade volumes indicates that whales played an active role in the surge in trade volumes in both the NFT market and the metaverse.