There is virtual real estate in Decentraland.
Boson Protocol.
The virtual property market is heating up, with some investors shelling out millions of dollars to secure their place in the so-called metaverse that Grayscale said presents a $1 trillion a year revenue opportunity.
The metaverse is the new frontier where people can socialize, work and shop, and as in the real world, entities are grabbing up land where such activities thrive and generate money.
Grayscale, which runs the world's biggestcryptocurrencies fund, said in a recent report that the metaverse is still in its early days. There are three high-profile virtual deals.
1. The land purchase by Metaverse Group was in Decentraland.
Metaverse Group, a subsidiary of Tokens.com, purchased a patch of digital land for 618,000 mana, or about $2.43 million at the time. The land patch is located in Decentraland, an online, virtual-only environment. The previous record-high sale for virtual real estate was more than double the purchase price.
The plot sale on Decentraland was worth $913,228.20.
Republic Realm, a digital real estate investment firm, bought a non-fungible token for nearly $1 million to represent a plot on Decentraland. The purchase price was slightly higher than the average home price in Manhattan, but the plot consisted of 259 parcels.
The land was bought for $2.3 million.
One of the Genesis Land plots on Axie Infinity sold for more than two million dollars on Thursday. At the time of the February sale, the largest transaction on the platform that features colorful, competitive creatures called Axies was worth 888.25 ether for nine plots of land.
The recent surge in cryptocurrencies linked to the metaverse has been caused by the activity surrounding it.
A mega yacht is on The Sandbox.
A virtual mega yacht was sold this week on The Sandbox for $650,000. 149 ether was the price for the Metaflower Super Mega Yacht. Digital Republic released it for the The Fantasy Collection line of luxury NFTs.
Business Insider has an original article.
