The metaverse may not be dead just yet. According to blockchain analytics platform DappRadar, sales of metaverse-related non-fungible tokens (NFTs) climbed 27% in August compared to the previous month, signaling that users could be “slowly sneaking back into virtual worlds.”
The report revealed that while trading volume totaled $6.5 million across metaverse platforms in August, slightly down from July’s $6.7 million, the number of sales rose to 13,927 transactions, a clear sign of increased engagement.
“It’s the 2nd month of steady activity, hinting that users may be slowly returning to virtual worlds like Sandbox, Mocaverse, Otherside and Decentraland,” the report stated on X.
Signs of Recovery After Hype Cycle
The metaverse gained mainstream attention in 2021 and 2022, fueled by hype, speculation, and high-profile partnerships. However, activity slowed dramatically through 2023. Now, analysts suggest the latest uptick may mark the start of a gradual recovery.
Sara Gherghelas, a DappRadar analyst, emphasized that the August performance indicates “the metaverse isn’t dead yet” and that users are beginning to re-engage.
In comparison, July recorded 10,900 transactions worth $6.7 million, a major jump from June’s 12,800 transactions worth $3.7 million. January remains the strongest month of 2025 so far with $7.7 million in sales, while April and May posted the highest trading volumes at over 19,000 transactions each.
Platforms Focus on Long-Term Infrastructure
Gherghelas noted that leading projects are now building long-term infrastructure rather than chasing hype.
The Sandbox, part of Animoca Brands, held its largest Land auction in July.
Mocaverse is preparing to launch Moca Chain, with a testnet expected this quarter.
Otherside, created by Yuga Labs, introduced AI-powered world-building tools in August.
Decentraland announced a major engine upgrade to improve user experience.
HYTOPIA, a Web3 gaming metaverse, replaced its $TOPIA token with $HYBUX and expanded its creator fund.
“While volumes remain modest, leading platforms are shifting their focus toward long-term infrastructure, identity, and creator tools,” Gherghelas explained.
New Projects in the Pipeline
Meanwhile, new metaverse initiatives continue to emerge. In March, AI startup Infinite Reality acquired music-streaming service Napster, planning to integrate it into a music-focused metaverse.
In February, DTTM Operations, owned by President Donald Trump, filed trademarks tied to a metaverse and NFT marketplace built around his brand.
Outlook
Although the metaverse remains far from its 2021 peak, the latest data from DappRadar suggests a foundation for gradual growth is forming. With major platforms focusing on infrastructure, AI integration, and creator-driven economies, analysts believe the virtual worlds sector could see a new wave of innovation.
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