Another Virtual Record: Virtual Plot Worth $4.3 Million Sold On Metaverse
The metaverse records just keep breaking themselves. A plot of virtual real estate just sold for $4.3 million in The Sandbox, making it the most expensive metaverse property sale as of December 8, 2021.
According to The Wall Street Journal, the virtual land was purchased by a developer from the video game company Atari (yep, the people behind RollerCoaster Tycoon, Zoo Tycoon and all that simulation jazz!)
Another metaverse record - shattered!
The developer who bough the land go by the name "Republic Realm." The group invests in virtual real estate and other digital assets in the form of non-fungible tokens (NFTs).
This sale is the largest-ever in the history of metaverse, according to data from NonFungible.com.
Just last week, a record was set by Metaverse Group, a subsidiary of Tokens.com after purchasing a digital plot for $2.43 million (618,000 mana). The virtual plot was situated in Decentraland, an online environment built around the metaverse ecosystem.
Also read:?Someone Paid $450,000 To Become Snoop Dogg's Metaverse Neighbour
The Sandbox is an Ethereum metaverse and deals in its local currency called SAND. Property is sold as NFTs, allowing buyers to assert ownership of the digital assets, while also retaining the ability to sell them forward.
An NFT can be virtually anything, ranging from art, music, and clearly virtual land. On The Sandbox, they're called LAND NFTs. Recently, someone paid $450,000 (71,000 SAND) to become neighbours with Snoop Dogg, the American musician.
As the metaverse kicks off, the wealthy are already investing in virtual land. What purpose will these plots serve? We don't know yet. But the money involved is enormous, implying the takeover of the metaverse has already begun.
Also read:?Barbados Will Become The First Country With An Embassy In The Metaverse
Are you going to invest in digital plots on the metaverse? Let us know in the comments below. For more in the world of metaverse and all things science and tech, keep reading Indiatimes.com.??
Citation
Putzier, K. (2021, November 30). Metaverse Real Estate Piles Up Record Sales in Sandbox and Other Virtual Realms. WSJ.
