Many of the companies investing in this concept are seeing the benefit of it in their markets. Decentraland, Axie Infinity and other platforms are selling digital land plots in virtual universes for millions of dollar. Even in the most expensive places, some prices can go up to twice that of physical properties.
Digital Land Gaining Value In Meta Projects
It is beginning to have an impact on the price and availability of digital land and tokens, which are key elements of the metaverse. There have been digital land plot sales for over a million dollars this week in metaverse-related projects. Axie Infinity reported the first sales of these plots in February. 8 land plots were sold. soldYou can get 888 ETH or $1.5million 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. According to the buyer:
We’re witnessing a historic moment; the rise of digital nations with their own system of clearly delineated, irrevocable property rights. There is entertainment value and social value to Axie Land, as well as economic value through future resource flow.
Increase the Ante
However, recent sales on various platforms have outsold even this listing. Axie infinity sold another land plot this week. payingThe digital property was worth $2.3 Million and 550 Ethereum, surpassing the previous record. Axie Infinity, however, isn’t the only one that has benefited from this virtual real estate boom.
Another virtual world project Decentraland also registered this week a record sale for $2.43million in cryptocurrency. However, this transaction was made not by an individual. It was done by Metaverse Group which is a subsidiary tokens.com and focuses on metaverse-based investments in real estate.
There are many metaverse projects that integrate virtual worlds. It looks like there will be more virtual property investments in the future. Companies who would rather manage virtual land, than the uncertainty and complexity associated with managing real properties, may make more.
Let us know your thoughts on the boom in virtual real estate and digital property. Leave a comment below.
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