Even though the overall NFT market remains in a bit of a lull, there is a growing interest in the metaverse. Projects like The Sandbox and Decentraland note tremendous sales lately. Everyone wants their plot of land in the virtual world and build something amazing by looking at things. This week’s top sales for The Sandbox brought in tremendous amounts of money.
LAND #29519 (9.99 ETH)
It is always interesting to see how people approach the concept of the metaverse and owning virtual plots of land. The Sandbox is one of two major projects in this space, and some of its plots go for high prices. LAND #29519 is one such example, as it sold for 9.99 ETH this week. Considering how it sold for under $100 in its first sale, that is a substantial value increase.
LAND #58566 (10 ETH)
The prices for LAND plots in The Sandbox skyrocketed last week, with another cheaply-obtained plot going for over 1500x its initial value. LAND #58566 went from a price of $33.85 to $47.451, or 10 ETH at the time. It has had three unique owners to date, yet it remains to be seen whether the current owner uses it for metaverse building or speculative purposes.
LAND #48766 (8.850 SAND)
Some people may forget there are two ways to acquire land plots in The Sandbox. Users can pay in Ether or use SAND, the native currency of this ecosystem. LAND #48766 saw a recent sale for 8.850 SAND, or $57,171. A hefty increase from the first sale price of $29,000 will be interesting to see whether anything will be built on this plot in the future.
LAND #77714 (14 ETH)
It would appear some people are willing to spend tremendous amounts on The Sandbox and the land plots it provides these days. That is good news for early investors and speculators, although no one knows if prices will remain this high. LAND #77714 sold for 14 ETH (or $61.519) while it was initially bought for 4.863 SAND ($3,788.76). It is intriguing to see someone accept ETH for a plot purchased with SAND.
There may be a trend to these prices, as plots with a lower number might fetch a higher price on the market. Acquiring a four-digit one is rare enough, although it may not necessarily warrant spending 15 ETH (or $68,878) on it. Interestingly, the plot has been sold three times now, going from under $100 to $3,875, and now $68.878. It is a very solid return for the previous owner who bought it nine months ago.
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