Cardano Backed Metaverse Project Pavia’s Land Price Skyrockets

Cardano network released Pavia, a Metaverse-based gaming platform, last week. This is the Cardano’s first ever metaverse project.

NFTs are a growing trend that use non-fungible tokens (NFTs), which work with the same technology as cryptocurrency. Investors can get tokenized assets for their favourite art, idols and places. NFTs represent tangible as well as non-tangible objects.

Pavia is estimated to have issued approximately 100,000 parcels of land. Each land parcel’s minting is a non-fungible token, NFT, that possesses individual coordinates.

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With more than 60% sold in October and November, the pre-selling kicks off since 2021. There is also a high demand for remaining parcels, which will go on sale in the first quarter 2022.

The functionality of Pavia’s native token is as an in-game asset. An airdrop of Pavia’s native token was made to NFT landholders. This was after the blockchain’s snapshot in December 2021.

Pavia tokens, according to MuesliSwap (a Cardano-based trading platform), are currently selling for about 20 cents per coin. It also has a market capitalization of over $107 million.

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Pavia has more landowners than 8.300. According to data, the users could not deploy any assets on their land Monday. Pavia issued warning documents to customers that they could not visit the plots or add content. The land parcels were in their development phase.

Cardano’s Metaverse Projects: There is more to be compelled

Pavia’s emergence on Cardano occurred during the period when incredible carvings were made for virtual parcels. Virtual plots of land can be purchased on multiple blockchains, including Ethereum. This allows for millions in revenue.

Land plats in Pavia have a value of up to 30,000 Cardano (the Cardano NFT market). At press time, this amount equals approximately $45,600.

Recent attention has focused on the Metaverse. The Metaverse is a virtual realm that allows people to interact freely with the real world without restrictions.

Its digitalization of operations is what makes it unique. As many firms plan to appear on the Metaverse, the Metaverse’s functionality is drawing attention.

Binance.US (developing on Portals) is one company that’s interested in joining the Metaverse. Portals is an Solana-based Metaverse Project.

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Samsung, the global electronics manufacturer, also launched a metaverse brand at its New York City flagship shop. Decentraland hosted the launching of this brand in January.

Featured image from Britannica, chart from TradingView.Com

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