A plot of digital land just sold for $2.3 million on Axie Infinity, as the real-estate race heats up across the metaverse

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A virtual lot just sold for $ 2.3 million, according to play-to-earn gaming platform Axie Infinity.
Axie said in a tweet on Wednesday it was the highest price ever for one of his Genesis Land lots.
Another lot was sold this week on the Decentraland Metaverse for a record $ 2.43 million.
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The Metaverse is still in its infancy, but the real estate wars are heating up. Another digital lot, sold for more than $ 2 million in a virtual world this week, shows how much investors are willing to pay to secure space before the Metaverse really goes mainstream.
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This time it was a Genesis property on Axie Infinity. The Play-to-Earn platform announced in a tweet on Wednesday that a piece of land had been sold for 550 ethers, which at current levels is worth over $ 2.3 million. Axie Infinity enables users to create digital pet axolotls to play games, purchase land and other assets, and earn and sell axie-related non-fungible tokens (NFTs). It even has its own cryptocurrency - AXS - which is one of the most traded metaverse-linked tokens.
"We believe this is the highest sum ever paid for a single digital property," Axie tweeted.
Prior to that final sale, the largest sale on the Project was 888.25 ether for nine lots, which at the time of the sale in February was over $ 1.5 million.
Axie Infinity was developed by Sky Mavis, a Vietnam-based company, and is one of the largest non-fungible token platforms in the world.
NFTs are unique digital tokens that make up a large 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 funds to build their own metaverse.
Another property was sold Tuesday on the competing platform Decentraland for $ 2.43 million. Both prices are higher than most real home prices in some of the most expensive cities in the United States.
The growing momentum in the metaverse has also resulted in a steep rise in the value of the cryptocurrencies associated with the virtual world. In the past week alone, Decentraland's mana token has increased 38%, Sandbox's sands by 74%, and Gala Games' gala has increased 150%, according to Coinmarketcap.
Read the original article on Business Insider
In this article:
ETH-USD
+ 4.90%
META-USD
-2.00%
MANA-USD
+ 3.86%

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