A piece of digital land just sold for $2.3 million on Axie Infinity as the real estate race heats up in the metaverse | Currency News | Financial and business news

virtual country

  • Play-to-earn gaming platform Axie Infinity said a parcel of virtual land has just been sold for $2.3 million.
  • Axie said in a tweet Wednesday that it was the highest price tag ever for any of its Genesis Land plots.
  • Another lot sold for a record $2.43 million on the Decentraland metaverse this week.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

The metaverse may still be in its infancy, but the real estate wars are flaring up. Another piece of digital land sold for more than $2 million in a virtual world this week, indicating how much investors are willing to pay to secure space before the metaverse really goes mainstream.

This time it was a Genesis plot on Axie Infinity. The play-to-earn platform said in a tweet on Wednesday that a tract of land had been sold for 550 ether, worth more than $2.3 million at current levels. Axie Infinity allows users to create digital pet axolotls to play games, buy land and other assets, and win and sell axie-related non-fungible tokens (NFTs). It even has its own cryptocurrency – AXS – which is one of the most traded among metaverse-pegged tokens.

“We think this is the largest amount ever paid for a single piece of digital land,” Axie tweeted.

Prior to this latest sale, the project’s biggest sale was worth 888.25 ether for nine suddenly of land, which was more than $1.5 million when it sold in February.

Created by Sky Mavis, a Vietnam-based company, Axie Infinity is one of the largest non-fungible token platforms in the world.

NFTs are unique digital tokens that are a big part of the growing metaverse platform. Mark Zuckerberg’s Meta — formerly Facebook — will focus on creating this virtual reality, as will Gemini exchange founders Tyler and Cameron Winklevoss, who recently raised money to build their own metaverse.

Another property was sold on Tuesday for $2.43 million on rival platform Decentraland. Both price tags are higher than most real homes in some of the most expensive cities in the US.

The growing momentum in the metaverse has also led to steep increases in the value of the cryptocurrencies associated with the virtual world. In the past week alone, Decentraland’s mana token is up 38%, Sandbox’s sand is up 74% and Gala Games’ gala is up 150%, according to Coinmarketcap.

Leave a Comment