Fun

Digital Land Plots Selling for Millions in Metaverse Projects

News Feed - 2021-11-27 08:11:32

Digital Land Plots Selling for Millions in Metaverse Projects


The concept of the metaverse is starting to blow up, and many of the early companies that are invested in it are already reaping some of the benefits from this new trend in the market. Digital land plots in virtual worlds are now selling for millions of dollars on different platforms, including Decentraland and Axie Infinity. Some prices are higher than many physical properties, even in expensive cities. Digital Land Picking Up Value in Metaverse Projects


The rise of the metaverse concept and all the companies that are taking it seriously is starting to affect the sales and prices of metaverse-related key elements, like tokens and digital land. This week there have been sales of digital land plots for millions of dollars in key metaverse inspired projects. The first sale of this kind was reported in February by Axie Infinity, a virtual world game, where 8 plots of land were sold for 888 ETH, or $1.5 million dollars.


At the time of the sale, Axie Infinity’s team reported this to be the biggest sale ever of one of their genesis land plots. The buyer stated:


We’re witnessing a historic moment; the rise of digital nations with their own system of clearly delineated, irrevocable property rights. Axie land has entertainment value, social value, and economic value in the form of future resource flows. Upping the Ante


There have been recent sales, however, that have eclipsed even this one on different platforms. The sale of another Axie Infinity land plot was carried out this week, with the buyer paying 550 Ethereum worth $2.3 million for the digital property, breaking the earlier record. However, Axie Infinity is not the only group that has been benefiting from this recent virtual real estate boom.


Decentraland, another virtual world project, registered a sale of a property for a record $2.43 million in cryptocurrency this week, also. But this purchase was not made by an individual, but by Metaverse Group, a subsidiary of tokens.com dedicated to metaverse-based real estate investments.


With more metaverse projects integrating virtual worlds, the future looks as though it will bring more of these investments from companies that prefer to manage virtual land than to deal with the uncertainties and complexity of managing real property, even when these properties bought are more expensive than real estate in the physical world. Tags in this story axie infinity, Cryptocurrency, Decentraland, digital land, Facebook, Investments, Metaverse


What do you think about the recent boom in digital real estate from virtual projects? Tell us in the comments section below. "We’ve All Decided Centralized Banking Is Rigged" — South Park Episode Features a Bitcoin-Only Future NEWS | 2 hours ago Grayscale Report Sees Metaverse as Potential $1 Trillion Business Opportunity NEWS | 14 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleGrayscale Report Sees Metaverse as Potential $1 Trillion Business Opportunity Next articleNigerian Artist Davido Launches Fan Token That Gives ‘Power Back to the Fans’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItSotheby’s to Bring Down the Hammer in Ethereum on 2 Iconic Banksy Paintings


Sotheby’s, the British-founded American luxury auction house, has announced the company will be selling Banksy works for real-time bids in ethereum at “The Now Evening Auction” on November 18. While the upcoming auction will have pieces from highly acclaimed artists ... read more.Austria Plans to Tax Cryptocurrencies Like Stocks, Vows Equal Treatment Terra to Burn $4.5 Billion Worth of LUNA From Community Pool Finiko Fugitives Suspected of Moving 750 BTC From Crypto Pyramid’s Wallet SEC Rejects Vaneck Bitcoin Spot Market ETF Over Price Manipulation Concerns

News Feed

Trading Bitcoin’s halving: 3 traders share their thoughts
Editorial5 hours agoTrading Bitcoin’s halving: 3 traders share their thoughtsTrying to trade the crypto market while you wait for Bitcoin"s halving? Place your stink bids and ride any liquidity surges that equity marke
Metaverse set to revolutionize $54B medical tourism market: Research
Tristan Greene5 hours agoMetaverse set to revolutionize $54B medical tourism market: ResearchThe metaverse has found substantial footing in the medical industry with the advent of dedicated facilities catering to remote
The Many Facts Pointing to Cypherpunk Len Sassaman Being Satoshi Nakamoto
The Many Facts Pointing to Cypherpunk Len Sassaman Being Satoshi Nakamoto Satoshi Nakamoto, the creator of Bitcoin, has always been a mysterious character and a
Derek Andersen7 hours agoJed McCaleb-backed nonprofit will provide easier access to AI computing capacityVoltage Park will lease access to 24,000 clustered NVIDIA GPUs by the hour or month to help small startups and rese
Helen Partz9 hours agoNo, Bitcoin is not in its ‘longest ever bear market’ — Here’s whyBased on some definitions of a bear market, the current cycle is not the longest crypto winter ever seen and may not even be
$30 Million Crypto Scheme’s Leader Pleads Guilty, Facing up to 20 Years in Prison
$30 Million Crypto Scheme’s Leader Pleads Guilty, Facing up to 20 Years in Prison The leader of a cryptocurrency scheme that swindled over $30 million from investors has pleaded
Biggest Movers: ATOM up for Fourth Straight Session, While XTZ Rebounds on Saturday Low
Biggest Movers: ATOM up for Fourth Straight Session, While XTZ Rebounds on Saturday Low Cosmos rose for a fourth consecutive session to start the weekend, as prices edged closer to
Tristan Greene4 hours agoCentralized exchanges will become gateways for DeFi — dYdX Foundation CEOCEO Charles d’Haussy doesn’t view centralized exchanges as competitors for dYdX.5371 Total views8 Total sharesListen
Malware exploits weak passwords in PostgreSQL for cryptojacking
Derek Andersen2 hours agoMalware exploits weak passwords in PostgreSQL for cryptojackingUp to 800,000 internet-connected databases could be vulnerable to crypto-mining malware that will use their computing capacity.359 T
Bank of America Market Strategist Says ‘Summer Rally Is Over’ as Crypto and Stocks Slide Ahead of Fed Rate Hike This Week
Bank of America Market Strategist Says ‘Summer Rally Is Over’ as Crypto and Stocks Slide Ahead of Fed Rate Hike This Week Digital currency markets, precious metals, and stocks
Bitcoin Bar ‘Room 77’ Shuts Down
Bitcoin Bar "Room 77" Shuts Down Room 77, the German bar and restaurant that claims to be the first retail outfit in the world to accept bitcoin payments, has sh
Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns
Bitcoin Hashrate Rises Despite Price Drop, Mystery Hashpower Returns Bitcoin’s hashrate has increased a great deal, even after the leading crypto asset’s price slippe