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Cryptocurrency46 minutes ago (Dec 09, 2021 01:00AM ET)

NFT Collector Spends $450,000 to Be Snoop Dogg's Virtual Neighbour
NFT Collector Spends $450,000 to Be Snoop Dogg's Virtual Neighbour

The NFT has been filled with so many news updates recently, and another such news is the fortune spent by an NFT collector. An NFT collector reportedly paid over $450,000 for a piece of virtual land in the Snoopverse, an interactive universe created by Snoop Dogg.

The Sandbox, an Ethereum-based platform for building and monetizing online hangout areas and gaming experiences, is where you will discover the Snoopverse. You will have admission to special, members-only parties at a digital facsimile of Snoop’s California house if you become Snoop’s virtual neighbor. But, of course, all of this funfair is the drive for the collector who has just spent a whopping figure of $450,000 to be a neighbor.

Related: “I’m excited about it”, Snoop Dogg says about NFTs

Residents of the Snoopverse that can be called Snoopites or Snoopers, may dress up their avatars in fancy clothes, drive fast sports vehicles, and construct on their Snoopverse plots, allowing them to benefit from other visitors. It’s similar to what you have with Sims, maybe just a lot pricier.

Many other celebrities and famous figures have been utilizing the NFT in their way. Snoop Dogg isn’t the only well-known figure who has teamed up with The Sandbox. The platform, which recently concluded a $93 million Series B fundraising round headed by SoftBank, already has land owned by electronic musician Deadmau5 and intellectual rights such as the popular TV program The Walking Dead, The Smurfs, and the Care Bears.

This type of real estate, or digital real estate, appears to be highly profitable. According to DappRadar, the four leading virtual land platforms — The Sandbox, Decentraland, CryptoVoxels, and Somnium Space – sold $100 million worth of virtual land in the form of NFTs in one week at the end of November. The Sandbox was the most profitable of the bunch, bringing in $86.5 million.

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