After months of waning interest, activity around the metaverse appears to be picking up again. Sales of metaverse-related non-fungible tokens (NFTs) jumped by 27% in August compared to the previous month, according to fresh data from DappRadar, sparking renewed optimism that virtual worlds may still have a role in the next wave of digital innovation.

Across August, $6.5 million worth of metaverse-linked NFTs changed hands in 13,927 sales. While the dollar volume was slightly lower than July’s $6.7 million, the number of sales climbed significantly from the previous month’s 10,900, DappRadar reported on Thursday.

“It’s the second consecutive month of heightened activity, hinting that users may be slowly sneaking back into virtual worlds like The Sandbox, Mocaverse, Otherside and Decentraland,” the analytics platform wrote on X.

The surge is notable given that the metaverse sector, which exploded in popularity in 2021 and 2022, saw sharp declines throughout 2023 as investor enthusiasm cooled and many projects struggled to deliver on lofty promises.

Source: DappRadar

People “sneaking back” into virtual worlds

July’s trading represented a sharp rebound from June’s slump, when metaverse sales were just $3.7 million across 12,800 transactions. DappRadar analyst Sara Gherghelas said August’s figures are further evidence that the “metaverse isn’t dead yet” and suggested that more users may be “sneaking back” into virtual platforms.

However, she noted that January still holds the record for the best month of sales this year at $7.7 million, while April and May were strongest in transaction volume, both surpassing 19,000 trades.

Platforms shift focus to long-term infrastructure

Instead of chasing short-term hype, the leading platforms appear to be investing in long-term infrastructure.

The Sandbox, owned by Animoca Brands, held its largest-ever land auction in July, while Mocaverse is preparing to launch Moca Chain, with a testnet scheduled for this quarter. Yuga Labs’ Otherside platform introduced AI-powered tools for building virtual worlds in August, signaling a push toward creator-friendly features.

Decentraland, one of the most established metaverse platforms, announced a major engine upgrade, while Web3 gaming platform HYTOPIA rebranded its native asset, replacing the TOPIA token with HYBUX, and expanded its creator fund.

“While volumes remain modest compared to the peak years, leading platforms are doubling down on infrastructure, identity tools, and creator incentives,” Gherghelas explained.

New projects continue to emerge

Despite a slowdown in hype, companies are still pursuing metaverse projects. In March, AI startup Infinite Reality acquired Napster, the former file-sharing app turned music streaming service, with plans to integrate a music-centric metaverse.

Meanwhile, Donald Trump’s business entity DTTM Operations filed for trademarks in February tied to a metaverse and NFT marketplace built around the U.S. President’s brand, signaling that even high-profile figures continue to bet on the sector.