Virtual land tokenized as an NFT just sold for $8,073, 2.05x the current floor price of 2.08939116 Ethereum ETH/USD ($8,073 USD). The collection consists of over 97,000 plots of land –– at the present moment, each plot of Land parcels are 16m x 16m, or 52 square feet.
Land in Decentraland and The Sandbox skyrocketed after Facebook’s rebrand to meta, as more investors became aware of the Metaverse. Most times, virtual land sells at a premium due to the size of the lot and its proximity to the center of the Metaverse.
Ethereum’s blockchain is home to open-world metaverses, with the two most prominent being Decentraland MANA/USD and The Sandbox SAND/USD. Brands like Adidas ADDYY and Atari PONGF have bought virtual land in these blockchain-based Web 3.0, and some companies believe that much of retail will eventually happen within the Metaverse.
3 Additional Sales in Decentraland Virtual Real Estate
Decentraland real estate plot tokenized as an NFT just sold for $12,264, which is 3.12x the current floor price of 2.08939116 Ethereum ($12,264 USD).
Virtual land tokenized as an NFT just sold for $10,164, 2.43x the current floor price of 2.1385001 Ethereum ($10,164 USD).
Decentraland plot tokenized as an NFT just sold for $34,952, which is 8.37x the current floor price of 2.1385001 Ethereum ($34,952 USD).
Partial List of Big Corporations In Decentraland
This list is not all-inclusive, others big box stores and fashion chains have filed for patents to protect their Metaverse presence.
- Prager Metis
- Miller Lite
- JP Morgan Chase
- Estee Lauder
From the looks of the above list, retail is banking on Decentraland and other Metaverse Worlds to produce additional revenue streams.
The term metaverse is used to describe the evolution of human interaction with the internet. As we spend more and more of our time on the internet, the gap between the real world and our online identities declines. Eventually, the Metaverse is intended to be an immersive virtual world where people enjoy digital ownership and can interact with their peers.
Virtual land sales function the same as NFTs. Interest has been steady as the Metaverse Worlds continue to grow. Token/coin prices have fallen like much of the crypto-verse, but that presents a buying opportunity for anyone looking to own a parcel of virtual real estate.
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