The real estate market is heating up. Not the real estate you just thought of, but it’s actually the virtual one. Investors are pouring in millions of dollars in the Metaverse, which Grayscale said could be a $3 trillion a year revenue opportunity.
The Metaverse is a virtual 3D world. The technology allows people to socialize, shop, play games, and imitate real-life interactions — within a limit.
The metaverse is still “in its early innings,” said Grayscale, which runs the world’s biggest cryptocurrency fund, in a recent report. Here are the largest NFT related sales to date:
1. Metaverse Group purchase land for $2.43 million in Decentraland
Metaverse Group — a subsidiary of Tokens.com has purchased a digital land for 618,000 MANA. This accounts for $2.4 million at the time of the deal. The sale is more than double the previous record sale for digital real estate.
2. $913,228.20 plot sale on Decentraland
Meanwhile, Republic Realm — a digital real estate investment firm has purchased an NFT for almost $1 million. The NFT represents a plot of land on Decentraland which consists of 259 parcels or around 16 acres of virtual land.
3. $2.3 million land sale on Axie Infinity
Axie Infinity — one of the largest play-to-earn NFT gaming platform said that it had sold plots of Genesis Land for 550 Ether or over $2.3 million at the time of the sale. Ahead of this transaction was another sale of Axies which reached 888.25 Ether for nine plots of land, or about $1.5 million at that time, in February.
4. $650,000 metaverse mega yacht on The Sandbox
A Mega Yacht was also sold on The Sandbox for an astonishing $650,000. The Metaflower Super Mega Yacht was sold for 149 Ether. The virtual Yacht was developed by Digital Republic for the Fantasy Collection line of Luxury NFTs.
Not real estate exactly, but a virtual mega yacht was sold this week on The Sandbox for an astounding $650,000. The Metaflower Super Mega Yacht was purchased for 149 ether. It was released by metaverse developer Digital Republic for The Fantasy Collection line of luxury NFTs designed for The Sandbox virtual gaming world.