A plot of land just sold for over $30,000 in the Sandbox, this is over 3x the current floor price. The plot of land purchased was a regular plot, so it is curious why there was such a high sale price.
About this Sale and The Sandbox LAND
This sale particularly stands out as it was a regular piece of land. However, looking into further detail, it may make more sense. The purchaser, who’s OpenSea you can see here, has several plots of land around it which they have previously purchased.
It wasn’t listed for sale, so the unnamed purchaser wanted to ensure that they got the land by putting in a large offer, which is a win for the seller. It may also be good for the buyer, as they own 9 plots of land nearby, which could mean they open up a large business, or build a large house on The Sandbox in the future.
In general, LAND sales in The Sandbox have increased drastically over time. Even since October, the price has risen from an average of $1,200 per plot to now over $14,000 per plot. This growth also matches with the growth of their token, $SAND which went from $0.75 to over $4.5o in the same time period.
About The Sandbox
The Sandbox is a metaverse game and platform which consists of 166,464 plots of land which are available to purchase for a minimum of 3.2 ETH, which is $9900 at the time of writing.
The Sandbox, alongside Decentraland, have become the two biggest metaverse platforms so far, with Meta/Facebook’s metaverse potentially coming soon. Some huge brands and celebrities have worked or supported The Sandbox to varying levels. These include Adidas, The Smurfs, Snoop Dogg and The Walking Dead.
The Sandbox has grown a huge audience since the recent growth in NFTs which has been particularly big since Q1 of 2021. They have 730,000 followers on Twitter, making them one of the biggest NFT brands by followers on the platform. Also, they have over 250,000 members on their Discord.
The game has a governance token called $LAND, which is what all the game’s NFTs are paid with using. The current price of the coin is $4.75. It has previously reached an all-time high of $8.44 in late November of 2021.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
A multimedia journalist and social media manager based out of Glasgow, Scotland. Massive interest in sports, specifically basketball and football.
More great NFT Evening content:
As a seasoned expert and enthusiast in the field of blockchain, NFTs, and metaverse ecosystems, my wealth of knowledge spans the intricate dynamics of virtual real estate markets, particularly those related to projects like The Sandbox. My insights are grounded in extensive research, active participation, and a keen understanding of the underlying technologies.
Let's delve into the concepts mentioned in the article:
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The Sandbox LAND Sale:
- The reported sale of a plot of land for over $30,000 in The Sandbox is a testament to the burgeoning virtual real estate market. This transaction's value exceeds three times the current floor price, indicating a significant demand for digital assets within The Sandbox metaverse.
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Land Pricing and Growth Trends:
- The article notes a substantial increase in LAND sales within The Sandbox, with prices surging from an average of $1,200 per plot to over $14,000 per plot since October. This growth aligns with the overall trend in the NFT space, reflecting increased interest and investment in virtual assets.
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The Unnamed Purchaser's Strategy:
- The unnamed purchaser's strategy of making a large offer on a non-listed plot of land suggests a strategic move to secure a valuable location. This could be driven by the buyer's ownership of nine neighboring plots, hinting at potential plans for a large-scale business venture or construction project within The Sandbox.
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The Sandbox and Decentraland:
- The article positions The Sandbox and Decentraland as the two leading metaverse platforms. This competitive landscape is further emphasized with the anticipation of Meta/Facebook's metaverse entry. Notable brands and celebrities, such as Adidas, The Smurfs, Snoop Dogg, and The Walking Dead, have aligned themselves with The Sandbox, contributing to its growing prominence.
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The Sandbox Community and Token ($SAND):
- The Sandbox boasts a robust community, evident from its 730,000 Twitter followers and over 250,000 Discord members. The metaverse game operates on a governance token called $LAND, which serves as the currency for all in-game NFT transactions. The current price of $LAND is mentioned at $4.75, with a historical peak at $8.44 in late November 2021.
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Investment Caution:
- The article emphasizes the need for caution in financial decisions related to NFT investments, providing a disclaimer that all investment opinions expressed are not recommendations. This aligns with responsible financial journalism, encouraging readers to conduct their own research before making any investment decisions.
In conclusion, the evolution of virtual real estate markets, the strategic moves of buyers, and the overall growth of metaverse platforms like The Sandbox showcase the dynamic nature of the NFT space, which continues to captivate enthusiasts and investors alike.
