Digital assets are hot property in The Sandbox metaverse game.
Lisa Gibbons · December 4, 2021 at 9:00 pm UTC · 2 min read
As the world of the rich and famous starts to sit up and take notice of DeFi opportunities there has been a massive land grab to secure the best digital assets in some of the most popular metaverse projects. Week after week, buyers are snapping up sought-after assets.
Just last week we reported that Fashion Street Estate in Decentraland sold for $2.4 million. This week it is all about The Sandbox community. A plot of land has sold in The Sandbox for a whopping $4.3 million and a luxury virtual yacht has sold for $650,000. It is clear that the world of digital assets is exploding.
The three-storied yacht features two helipads, a dancefloor, hot tubs and a DJ booth. It was designed as part of a luxury NFT collection for The Sandbox. Private islands, speed boats and jet skis are some of the other digital assets available. The collection of 100 private islands sold out in under 24 hours.
The Sandbox is one of the leading metaverse games where players can build, own and monetize their virtual experiences. It also gives players access to free design tools like VoxEdit and Game Maker so that they can customize their experiences within The Sandbox.
The seller was Republic Realm, an investor and developer of virtual real estate and other digital assets. They recently purchased virtual land in The Sandbox from Atari for $4.3 million, the biggest metaverse property sale to date. They also own about 2,500 plots of digital land across 19 worlds.
Metaverse property sales are exploding
This is a continuation of a trend happening across all metaverse platforms. Buyers are securing their place in the virtual world and sellers are cashing in on the action. People are spending more time escaping the real world in favor of virtual bliss. Why spend time in a reality where Covid is taking centre stage when you can hangout with fellow creators in a virus-free oasis.
The covid virus has without a doubt exacerbated this need to escape and crypto has allowed us to create new economies. Participation through games from Decentral Games and other community-led initiatives are demonstrating the sustainability of the metaverse. They also show how fast it is growing and evolving.
Now that we have the technology allowing us to tap into new online communities, experience virtual events and participate in ways like never before, investors are grabbing every opportunity to get involved.
Posted In: Metaverse, NFTs
Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.
Get an edge on the cryptoasset market
Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.
Join now for $19/month Explore all benefits