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Digital “land” in video games attracts NFT investors
Investors are betting that owning digital plots of land will pay off for them
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