Digital land sold for millions in metaverse projects – bitcoin news

[ad_1]

The concept of the metaverse is starting to explode, and many of the early companies to invest in it are already reaping some of the benefits of this new market trend. Digital plots in virtual worlds are now selling for millions of dollars on various platforms including Decentraland and Axie Infinity. Some prices are higher than many physical properties, even in expensive cities.

Digital Land gains value in metaverse projects

The rise of the concept of the Metaverse, and all the companies that take it seriously, is starting to affect the sales and prices of key Metaverse-related items, like tokens and digital lands. This week, there were digital land sales for millions of dollars in key projects inspired by the Metaverse. The first such sale was reported in February by Axie Infinity, a virtual global game, where 8 plots of land were sold for 888 ETH, or $ 1.5 million.

At the time of the sale, the Axie Infinity team reported that this was the biggest sale ever for any of their Genesis plots. The buyer declared:

We are witnessing a historic moment; the rise of digital nations with their own system of clearly defined and irrevocable property rights. Land Axie has entertainment value, social value, and economic value in the form of future resource flows.

Raise the bar

However, there have been recent sales that have eclipsed even this one on different platforms. The sale of another Axie Infinity plot was completed this week, with the buyer paying 550 Ethereum worth $ 2.3 million for the digital property, breaking the previous record. However, Axie Infinity is not the only group to take advantage of this recent boom in virtual real estate.

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

With more metaverse projects integrating virtual worlds, the future looks as if it will bring more of these investments from companies that would rather manage virtual lands than deal with the uncertainties and complexity of real estate management. even when these purchased properties are more expensive than real estate in the physical world.

What do you think of the recent boom in digital real estate from virtual projects? Tell us in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. 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 allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.

More popular news in case you missed it

[ad_2]