According to Cointelegraph, metaverse-related non-fungible token (NFT) sales experienced a notable increase of 27% in August compared to the previous month. This rise suggests a gradual return of interest in virtual worlds, as highlighted by an analyst from DappRadar. The report, released on Thursday, indicated that while the metaverse trading volume slightly decreased to $6.5 million in August, the number of sales rose to 13,927, marking a significant uptick from July.
The resurgence in activity marks the second consecutive month of steady engagement, hinting at a renewed interest in platforms such as Sandbox, Mocaverse, Otherside, and Decentraland. The metaverse, which reached peak popularity in 2021 and 2022 due to widespread speculation and excitement, saw a decline in 2023. However, recent trends suggest a potential revival. In July, DappRadar recorded $6.7 million in sales and a trading volume of 10,900, a substantial increase from June's $3.7 million in sales and 12,800 in volume. Analyst Sara Gherghelas noted that the August figures indicate the metaverse is far from obsolete, with users gradually returning to these digital spaces.
Despite the positive trend, January remains the strongest month for sales this year, with $7.7 million, while April and May led in trading volume, each surpassing 19,000. Currently, leading platforms are concentrating on long-term infrastructure development. The Sandbox, a subsidiary of Hong Kong-based Web3 firm Animoca Brands, conducted its largest Land auction in July. Mocaverse is preparing to launch Moca Chain, with a testnet expected soon. Otherside, developed by Yuga Labs, introduced AI-powered world-building tools in August. Decentraland announced a significant engine upgrade, and HYTOPIA replaced its $TOPIA token with $HYBUX, expanding its creator fund.
While trading volumes remain modest, platforms are increasingly focusing on infrastructure, identity, and creator tools. Additionally, companies continue to explore metaverse projects. Infinite Reality, an artificial intelligence startup, acquired Napster in March, aiming to integrate a music-focused metaverse. Meanwhile, DTTM Operations, owned by U.S. President Donald Trump, filed for trademarks in February related to a metaverse and NFT marketplace centered around the President's brand. These developments underscore the ongoing efforts to innovate and expand the metaverse landscape.