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According to the company, this is the largest amount ever paid for a portion of digital real estate.
Axie Infinity, a blockchain game based in Vietnam, announced the sale of a digital land plot on their platform for 550 ETH (approximately $2.3 million). The company states that this is the highest amount ever paid for a portion of digital real estate.
This amount surpassed a $1.5 million deal for 9 digital land plots in this play-to-earn game back in February. The previous transaction had become the largest NFT sale at that time.
Announcement posted on Twitter by Axie Infinity.
This week, Tokens.com subsidiary, The Metaverse Group, also acquired a digital land plot on another blockchain-based platform, Decentraland, for 618,000 MANA (approximately $2.4 million). The company mentions that this price exceeds most real-life houses in major U.S. cities and is the highest price for a virtual real estate parcel on their platform.
The aforementioned transactions are considered the latest part of the increasing interest in digital real estate in the metaverse economy.
A report from the renowned cryptocurrency asset manager Grayscale indicates that the metaverse is estimated to have revenue opportunities of up to $1 trillion across advertising, social commerce, and digital events, although no specific timeline is provided. The report also mentions that capital raised through cryptocurrency reached $8.2 billion in the third quarter of 2021, with blockchain-based gaming startups receiving a total of $1 billion in funding during the same period.
Axie Infinity is an online NFT-based gaming application developed by the Vietnamese startup Sky Mavis. The game draws inspiration from the once globally popular Pokémon game, allowing players to battle, collect, raise, and build a kingdom on land for their pets (commonly referred to as Axies). The game uses a type of Ethereum-based cryptocurrency called AXS and SLP. Currently, Axie Infinity is the most valuable NFT collection according to DappRadar data.
Reference Techinasia
