Digital “land” in video games attracts NFT investors

Investors are betting that owning digital plots of land will pay off for them

National Weekend Edition /
Mar.March 27, 2021 09:00 AM
NFT-based game The Sandbox is allegedly worth $37 million. (Getty, The Sandbox)

NFT-based game The Sandbox is allegedly worth $37 million. (Getty, The Sandbox)

The NFT craze is extending into digital “real estate,” which is now attracting millions of dollars from investors.

In January, NFT investor Polyient Games paid $800,000 for one of five “kingdoms” in the unreleased role-playing game “Mirandus,” the Wall Street Journal reported. A month later, a mystery group of buyers paid $1.6 million for another kingdom in the game.

Mirandus has just 1,625 “deeds,” and investors are betting that demand will rise, which could help generate in-game income tied to a digital token.

Another NFT-based game, “The Sandbox,” sold around $2.8 million worth of land last month. The game’s creators claim its digital land is worth around $37 million.

The game’s landowners can create their own programs using “The Sandbox”’s creator, accessible only on their land. They can also tie in-game collectible items to those properties to boost their value.

Last week, a different sort of digital real estate was sold via NFT. Artist Krista Kim sold her 3D home, “Mars House,” for more than $500,000.

[WSJ]Dennis Lynch


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