In the first quarter of 2023, the trading volume for NFTs reached $311 million.



NFT trading in virtual worlds reached $311 million in Q1 2023, with virtual land trading hitting an all-time high of 147,000 trades, driven by platforms such as Yuga Labs’ Otherside and MG Land. The report noted a 237% increase in trading volume for Otherdeed NFTs linked to land in Otherside, reaching $222 million, including one sale for $2.85 million.

Other virtual world dapps that made the list of top dapps included The Sandbox, Axie Infinity, and Decentraland, with Createra Genesis Land topping the list with $14 million in trading volume backed by a $10 million funding round from A16z.

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