A virtual plot of land in the blockchain-game Decentraland sold for over $1 million, breaking the platform’s sales figure. Let us learn how much a plot of land in Decentraland costs and how to buy one.
Non-fungible tokens are used to buy and sell virtual land in Decentraland (NFTs). Those transactions take place daily, but one recent acquisition by investors raised the stakes to a whole new level. The sales price of $913,228.20 is the most profitable NFT land acquisition ever and should be enough to purchase a few real properties in various places across the world.
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The NFT, also known as a LAND token, was purchased by the digital real estate investment company Republic Realm. Individuals can display NFT art, real estate, clothing, and even attend big shows with online friends on bought land in a virtual environment like Decentraland.
Inside Decentraland, the value was 1.3M MANA, the platform’s own coin. Although there have been land purchases for additional MANA, this one is the most expensive in terms of dollars invested. The buyers have claimed that they have huge plans for their new fund’s development and that they are dedicated to creating and expanding the metaverse.
The investment is a digital land plot made up of 259 units totaling around 16 acres of digital property. This puts the sale may be the most expensive but also the most massive on Decentraland.
Virtual land is Growing in Popularity
The previous high for a digital property plot sold on Decentraland occurred earlier in the month when blockchain firm Boson Protocol paid $704,000. On the property, the business intends to construct a virtual mall. Users will be able to purchase digital assets and swap them for real-world things at the mall. We’re enabling fresh and amazing experiences that capture the potential of eCommerce by enabling businesses to have a direct touch with their consumers without the need for intermediaries by giving the option to buy something in the metaverse and then take possession of it in the physical world.”
Decentraland isn’t the only place where you can buy NFT land for real-world values. The Sandbox, a rival to Decentraland, finally sold a parcel of land for over $650,000 on its website. In March, another platform, Somnium Space, announced a $ 500K estate transaction.
Sotheby’s opened a virtual version of its London location to hold an NFT art event, proving that even huge auction companies are getting into the virtual real estate business. More than 3,000 people attended the first event. Non-fungible token producers are also selling real-world real estate as non-fungible tokens. Shane Dulgeroff, a property manager, recently featured his property as part of an NFT sale that included digital art of the property.
Cost of a Plot of Land in Decentraland
Each land plot is an NFT (NFT, ERC 721), which implies it is one-of-a-kind and cannot be fabricated or reproduced, just like real-world land.
On the authorized Decentraland Exchange or via Opensea, anyone can purchase, sell, or lease land at any time. Because all transactions are recorded on the Ethereum blockchain as actual proof of ownership, when you purchase and hold a land token, you are legally and indisputably the proprietor of that piece of property. Each Decentraland land token has its own set of coordinates that correspond to a specific spot on the Decentraland map. The value of a property is often determined by its proximity to prominent locations such as roadways and plazas.
When you possess and connect adjacent pieces of property on a map, you have an Estate, which allows the owner to develop higher. Decentraland also provides the possibility of obtaining a land mortgage.
Total LAND: 90,601
Each LAND Size: 16m x 16m square
Highest ever sale: 2,000,000 MANA
What are the Alternatives to Decentraland?
Fan Bits is a cryptocurrency-based platform where people may publish digital products that can be collected by other customers. Influencers and creators can use the platform to create and sell digital items to their audience. It also provides a new opportunity for producers to monetize their work by selling it to their followers or other people.
Influencers and artists can use the platform’s features to launch, market, and sell their digital collectibles. Users are compensated in bitcoins, and they can track their purchases on the website.
ValentineCoin is a currency based on the Ethereum network that users may present to their dear ones by etching a message on it that will be stored in the blockchain in perpetuity. The best part about this currency is that it is immutably stored in the blockchain and cannot be removed.
Every coin has a unique ID, and since the user purchased it, it has a unique message printed on it. After purchasing a coin, people can share it with their friends and family on social media. They can receive a coin by visiting Valentine Coin’s page and entering their email account, message, and Ethereum wallet email.
Fishbank is an Ethereum-based online gaming platform that enables players to raise, fight, and exchange digital fish for virtual currency. A crypto fish can be obtained in one of two ways on the platform: by catching it from a tank or by purchasing it from other users.
The platform includes extensive information about fish, including power, agility, game tempo, and weight, as well as photographs. Furthermore, each fish is unique, and each fish’s rank, size, and power increase as a result of fishy combat.
CryptoCountries is a game in which players can purchase a country or a group of countries using digital currency and then govern the planet. On the Ethereum Network, players can obtain nations such as China, the United States, and Thailand. It is an interesting game in which users can purchase a country and become its owner.
The interesting element of this game is that any other player can pay a higher amount and steal the previous owner’s zone. The former owner would forfeit not only the land but also its ownership, but they would receive a double quantity of ETH in their virtual wallet.
Crypto Alpaca is a pet strategy game in which users can adopt and breed their own Alpacas. Users can purchase them with cryptocurrency to get a taste of what it’s like to adopt and raise an Alpaca. Furthermore, if they serve the alpacas every day, they will receive a daily incentive.
Users must first create an account, following which they will receive a CryptoAlpaca wallet into which they can transfer their virtual currencies to play. Users can obtain their CryptoAlpaca in one of two ways: through an auction or by purchasing it directly.
CryptoTulips is a videogame that allows players to gather digital tulips that are one-of-a-kind and can’t be fabricated or traded. Customers can retain these one-of-a-kind works of digital art in their Ethereum wallets. Users can also exchange them with others or give them as gifts to their friends and family.
The platform was established so that people can enjoy trading attractive digital assets, and it includes a large number of tulips, each with detailed information. Some of the tulips are for sale, and wealthier users can easily present them to their dear ones.
CryptoTulips is a videogame that allows players to gather digital tulips that are one-of-a-kind and can’t be fabricated or traded. Customers can retain these one-of-a-kind works of digital art in their Ethereum wallets. People can also exchange them with others or give them as gifts to their friends and family.
The platform was established so that people can enjoy trading attractive digital assets, and it includes a large number of tulips, each with detailed information. A few of the tulips are for sale, and wealthier users can easily present them to their dear ones.
Decentraland is a market that lets customers effortlessly buy all types of digital goods while also allowing them to create creative structures. The platform not only allows consumers to enjoy a virtual world game but also allows them to participate in it.
Users can also easily produce and sell their services and applications using this platform. Users can sell packages or wearables on this platform’s market, and they can establish their own price and expiration date. Other users can also purchase these assets using cryptocurrency.
It also allows users to navigate the marketplace using a map to see who owns what. Users must connect their crypto accounts, such as Mist or MetaMask, to purchase these assets. Finally, it allows users to create their own digital identities by using avatars.