Sin City Metaverse Land Sale Sold-Out in Under Two Hours, Netting $3.5m

4 mins
6 January 2022, 06:50 GMT+0000
Updated by Nicole Buckler
6 January 2022, 22:43 GMT+0000

Sin City: Another virtual land sale is scheduled for February. And it’s expected to be as obnoxious as the last sale.

The R-rated Metaverse Sin City held a virtual ‘land’ sale last December. Raking in millions, the sale broke brains across the world as people wondered why humans would buy virtual real estate. Meh, fortune favours the bold.

The digital dirt extravaganza brought in big profits for the creators. Which is nice work if you can get it. And even better, landowners don’t even have to mow the lawn or put up with annoying tenants. The cost of the land? 4,000 SIN per parcel (around $900 at the time of writing).

So who is snapping up virtual land in this Initial Land Offering (ILO)? Why aren’t they buying real land? DEAR GOD WHY AREN’T THEY BUYING REAL LAND?

Sin City Speculators

Speculators in this part of the Metaverse are as brave as hell… just like the initial punters who bought into bitcoin in the early days. This is spicy gambling at its finest.

Clearly bravery isn’t for everyone. Maybe one day we will look back upon this event from the future and wonder what possessed human to buy digital dirt. But if the speed of ‘land’ sales is anything to go by, this could be the best idea that speculators in the Metaverse ever had. The early birds and all that. Also something about location, location, location. All clichés apply here.

To these investors, the land sale was simply another way to speculate. This ‘real estate’ could be worth a bomb in the future. Compared to what you could lose in real-world property markets, $930 on virtual land almost seems like a sensible investment. And we have all seen real-world property prices go wrong. Take the Celtic-Tiger property crash, for example. That one stung speculators like hell. Some of us are still red from the experience. Sometimes, real-life real estate sucks. At least you get to bathe in vice in this world.

The Gaming Connection

As for Metaverse land buyers, there may be method in their madness. The Sin City land sale is a little different to other metaverses. The plots are connected to the NFT game that is currently in the development phase. This means that landowners will have advantages when it comes to survival and earning potential in the Sin City gaming environment.

Cities (built on severe naughtiness) are the key to this play-to-earn game. Participants can build their kingdom and commit crimes to become the ultimate KingPin. Although, this Metaverse isn’t for your standard Karen. It is laced with violence and gore. But hey, on the upside, you can also invite your mates to play – if you have any. They can help you out, or steal all your stuff. That’s what friends are for.

The developers say that Sin City works around the native token, $SIN. “This is the in-game currency used on the play-to-earn model based on various underworld activities. This is played within the vast metaverse of 15,000 plots of land consisting of some of the most exuberant cities in the world, ranging from the bright lights of Las Vegas to the carnival city, Rio de Janeiro.”

If you rent or buy a plot of land, you can build your empire. This helps players to create more revenue-generating assets. Trading happens on the Sin City Marketplace, where NFTs can be bought and sold.

Sin City: The hoods

In December, 15,000 plots of land went under the hammer. They were zoned into 17 districts. Each of these have their own storyline and gameplay. But the most important thing to know is whether the hood is a low security zone or high security zone. Selling your way out of a bad hood and getting in a good hood is presumably the raison d’etre.

Seeing as this is an R-rated game, of course the Red Light District was one of the first to sell out. The hot list also included the Cartel District, and the Chinatown District. And let’s not forget the Strip District. There’s a lot of places where sinning can happen in this Metaverse.

If you feel like you might want to buy into this land sale, then the next sell-fest is in February. Investors who bought in to the first round of land sales can also re-sell their properties at this time too. Hopefully they have renovated the properties artfully and with spurling taste. But it is a Metaverse of sin. You can probably also have the crackhouse experience. That’s definitely better online than in real life.

The multiple-revenue streams don’t end there. Creators of Sin City will also be selling licenses for landowners who have an entrepreneurial urge to set up businesses on their properties. It is $SIN-generating at its finest.

All of this speculation is wrapped up in vice. So much vice. And let’s just all admit that sin is pretty much just another word for fun.

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The information provided in independent research represents the author’s view and does not constitute investment, trading, or financial advice. BeInCrypto doesn’t recommend buying, selling, trading, holding, or investing in any cryptocurrencies