Moneycontrol PRO
UPCOMING EVENT:Moneycontrol Pro & Espresso (A Sharekhan Company) in association with Intrazon 2.0 bring to you India’s Largest Retail Intraday Traders Online Conference. Learn 12 Amazing Strategies from 12 Intraday Traders @ Rs. 600/-. Register Now!
you are here: HomeNewsBusiness

Digital plot sells for $2.3 million, biggest real estate sale ever

The Metaverse group, a subsidiary of Tokens.com subsidiary, also purchased land on Decentraland, another blockchain platform for about 618,000 MANA, or about $2.4 million. Notably, this is higher than the prices of even the houses in major US cities.

November 26, 2021 / 12:29 PM IST
In sheer technology terms, the metaverse will demand data processing power and bandwidth at a scale that is difficult to imagine. (Illustration by Suneesh K.)

In sheer technology terms, the metaverse will demand data processing power and bandwidth at a scale that is difficult to imagine. (Illustration by Suneesh K.)


Popular NFT-based blockchain gaming Axie Infinity recently sold Genesis land plot for 550 ETH on its platform, which amounts to around $2.3 million. This is the largest amount anyone has ever paid for a singular piece of real estate. Earlier, almost $1.5 million were dished out for nine plots in Axie Infinity in February, making it the biggest NFT transaction at that time.

Keeping with the trend, the Metaverse group, a subsidiary of Tokens.com, also purchased land on Decentraland, another blockchain platform for about 618,000 MANA, or about $2.4 million. Notably, this is even higher than the prices of houses in major US cities.


Also Read: More Indians join NFT gold rush

Metaverses, particularly real estate in this economy, is garnering great interest in recent times, with the crypto asset manager Grayscale reporting it to be having a revenue opportunity of $1 trillion over the years to come. Per the report, global crypto fundraising had reached $8.2 billion in the third quarter of 2021, with blockchain-based gaming startups having gathered a total of $1 billion during the same period.

From Amitabh Bachchan to Kamal Haasan, movie NFTs are gaining momentum in India

Subsequently, the associated cryptocurrencies also saw a steep rise in their value, with Decentraland's MANA token gaining 38 percent, Sandbox's SAND having risen 74 percent and Gala Games' GALA surging by  150 percent, according to Coinmarketcap.
Ira Puranik
first published: Nov 26, 2021 12:29 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark