Sales of virtual lands in Metaverse are currently on the horizon thanks to the growing number of interested individuals as well as companies. In the week commencing on 22nd November 2021, US$ 105.87 Million worth of virtual land was sold.
Most importantly, the sold lands were pieces and parcels of only four Metaverse projects. The virtual lands, which were sold against a whooping price of US$ 105.87 Million, included luxury villas, yachts, and other immovable assets.
The Sandbox, a Metaverse project, turned out to be the highest revenue collector amongst the sellers. In between 22nd November till 28th November, The Sandbox held sales of virtual lands via NFTs. It successfully sold only a couple of properties from its virtual world for US$ 86.56 Million.
Then there was the “Decentraland” virtual word project which also sold virtual lands in the real world market for US$ 15.53 Million. It secured the second spot in terms of the value of sales because its sales were approximately 70% less than The Sandbox.
The third and fourth places were the projects known as “CryptoVoxels” and “Sonnium Space”. They both executed sales of their virtual lands for US$ 2.68 Million and US$ 1.10 Million respectively.
The biggest purchaser turned out to be “Metaverse Group”, which is a sister concern of a crypto company called “Tokens.com”. Metaverse Group purchased a virtual land belonging to Decentraland for an amount of US$ 2.43 Million on 23rd November 2021. There was yet another highly valued sale of a plot that was part of “Axie Infinity”. This particular plot was sold by Axie Infinity for US$ 2.3 Million.
On the brighter side, the sales saw the involvement of more than six thousand purchasers/traders.
When this week started on 29th November 2021, The Sandbox held another sale of virtual land. It was at this moment when The Sandbox sold the world’s most expensive property in the Metaverse for an amount of US$ 4.3 Million. This very property of Sandbox’s fictional world was acquired by a well-known online realm owner company i.e. Republic Realm.
Meanwhile, Decentraland is gearing up for holding a new sale of virtual lands in 2022 at the event of “Virtual Festival”. Lastly, this event was held in the month of October 2021 which was attended by more than 50,000 individuals. At the festival, approximately 11 thousand NFTs were sold successfully.
Now global banks as well as the sports industry too are entering into the virtual reality world. This is evident from the fact that Manchester City which is an English soccer club has become a partner with Sony.
The club intends to develop its very own Metaverse with the help of Sony. Sony has vast experience of developing games for more than 20 years. It has already established several in-game virtual worlds. Adidas, which is the world’s leading sports products brand too has already entered the virtual world.
It is said that Metaverse has great potential for everyone and that it is a market involving the business of more than US$ 1 Trillion.