Virtual Land: The Cost in Decentraland Just Blew Past $3.5m

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In Brief
  • The cost of virtual land has exceeded millions of dollars

  • In some blockchain games, these locations can be absolutely deserted

  • The enthusiasm for virtual land spans across several virtual worlds

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The Trust Project is an international consortium of news organizations building standards of transparency.

Virtual land sales are still rocketing. According to DappRadar, punters will have to stump up more than $3.5m to buy the most expensive piece of virtual land in the Decentraland blockchain game.

The most expensive site in the blockchain game Decentraland at the moment costs a whopping $3.5m in the MANA altcoin.

Virtual Land: Fashion Street Estate

The plot, called Fashion Street Estate, was sold for 618,000 MANA at the end of November 2021. A week after the purchase, its price exceeded $3.5m. However, at the time of writing, the cost of virtual land had fallen back to ~$1.8m.

virtual land
The most expensive plot in Decentraland. Source: decentraland.org

Virtual Land: Venture Estates

The second most expensive plot in Decentraland is Venture Estates. It was sold in December for 300,000 MANA (~$864,000 at the current exchange rate).

virtual land
Source: decentraland.org

Virtual Land: Genesis Plaza Estate

The third most expensive plot of virtual land is the massive Genesis Plaza Estate, which was sold for 210,000 MANA (~$654,000).

All this is nice work if you can get it. But. In most cases, the sites are deserted. And. It is almost impossible to interact with anything on the land.

The overexcitement around virtual land is seen in other blockchain games. For example, in The Sandbox Summer Jam Land Sale, a plot of land went for 3.6 million SAND. At the current rate, the transaction is estimated to be worth ~$17.4m.

And they are flogging more virtual property every time you look their way.

Other Worlds with Land Sales

Hype around virtual plots is also evident in Somnium Space, Cryptovoxels and Axie Infinity. Earlier, our editors reported that the blockchain game Axie Infinity had begun to resemble a financial pyramid. For example, the entrance fee for participation in the game is $1000. This threshold is too high for many market participants.

To solve the problem, services have started to appear that cover up to half the cost of buying an in-game ticket in the form of digital characters. In exchange for this service, the services take away the profit that players can earn during the game.

It’s hard to know where the trend of buying up virtual real estate will go. But for now, it’s a mind-boggling reality of the Metaverse.

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Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Denis has been in the crypto industry since 2016. He was involved in the development of such media startups as hype.codes, currency.com, iHodl.com and many more. He is focused on fact-checking and passionate on how crypto and blockchain technology can change the world.

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