Metaverse is a term now almost heard or known by everyone who keeps an eye on the digital realm. The significant metaverse project, The Sandbox crypto, recently witnessed a Metaverse land sale for $2,350. This price is about 1.27x the current floor price of 1.65 Ether.
The estate comprises 166,464 plots of Land, and each of the plots is 2,500 square feet in the virtual world.
The Growing Frenzy Around The Metaverse
Metaverse as a concept gained quite a lot of traction following the instance when Facebook rebranded itself as Meta. In Fact, the Land in the Decentraland and The Sandbox reached their high after this due to the fact that more investors came to know about the Metaverse.
What happens is almost all the time, the virtual Land sells at a premium depending upon its area and its nearness from the centre of the Metaverse. Some big brands like Adidas, Atari, etc., are already purchased Land in the Metaverse.
A Metaverse is simply a world where people can work, interact, buy properties, hold meetings, play games, attend concerts, and much more through their personalized avatars. They would basically be performing all day-to-day activities but in a virtual world.
The second-largest blockchain network Ethereum (ETH) keeps hold of various open-world metaverses. Two of the most prominent and popular ones are The Sandbox (SAND) and Decentraland (MANA).
The Sandbox enables the enthusiasts to build and create games and digital assets and customization with the help of tools such as Game Maker and VoxEdit.
Users and Players in the Sandbox crypto game can develop their Avatars to access varied environments, hubs, and games in the virtual space. The in-game creations can be monetized through NFTs and sold via the Sandbox Marketplace for the tokens called SAND, the Sandbox crypto.
The Sandbox crypto (SAND) is currently exchanging hands at $0.896 with a market cap of $1,114,757,778 and is up by approximately 12% in the last twenty-four hours.
Source: https://www.thecoinrepublic.com/2022/06/16/the-sandbox-crypto-virtual-world-land-recently-sold-for-2350/