Virtual land tokenized as an NFT recently sold for $39,758, or 4.17 times the current Ethereum ETH floor price of 4.08481542 (USD 39,758). The collection comprises almost 97,000 land plots –– at present, each plot costs $1,500. The land portions are 16m x 16m (52 square feet). The land in Decentraland and the Sandbox have touched high after the rebrand of Facebook to meta because more investors have become aware of the importance of metaverse. Because of the size of the lot and its proximity to the metaverse’s core, virtual land usually sells at a premium.
The Ethereum blockchain is a place to open-world metaverses, with the two most prominent being Decentraland MANA and The Sandbox. Not only this but also Atari and Adidas have also introduced virtual land in these blockchain-based metaverses, and several companies believe that will eventually happen within the metaverse,
The word “metaverse” describes how humans have interacted with the internet over time. The difference between our real-world and online identities is narrowing as we spend more and more time online. The metaverse will eventually be a fully immersive virtual environment where people may own digital assets and communicate with their peers.
Why It Matters
After Facebook has changed its name to Meta, the traders and the investors have started giving attention to the platforms that are creating metaverses. Smart contract blockchains can immensely help secure ownership of digital assets, so the networks play an essential role in building out the metaverse.
Decentraland is a virtual world platform in 3D. Users may use the MANA cryptocurrency, which is based on the Ethereum blockchain, to purchase virtual plots of land as NFTs on the platform. The Decentraland Foundation manages the project, which opened to the public in February 2020.
The Sandbox metaverse has a map with 166,464 LANDS on it. Owners of LAND may organize competitions and events, stake SAND to earn and modify assets, monetize assets and experiences, vote in metaverse government, and play games created by you or others, among other things. Keep an eye out for upcoming drops and trade the collection.
Read this Decentraland price prediction to know the future of MANA.