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Most Expensive Land in the Metaverse

metaverse land sales expensive nfts

Virtual land is a booming business; NFT land trading makes people thousands of dollars

A piece of NFT land in a virtual world is a hot commodity at the moment, as investors and opportunists want a piece of the metaverse. Land sometimes goes for hundreds of thousands of dollars, depending on the popularity of the virtual world and the size of the land. We look at some of the most expensive hot spots in the metaverse.

In this article, we will look at some of the different virtual worlds. We spot the reasons for high land value and tell you about the most significant sales.

Decentraland

By the end of 2021, we’ve seen virtual real estate in Decentraland sell for millions of dollars. In Decentraland, three aspects influence the value of land: its size, its proximity to popular hot spots, and whether it’s next to a road. The biggest sales have been for estates, which are basically a bunch of land parcels bundled together. 

The most expensive land purchases have been:

Fashion Street Estate – 22 November 2021 – 618,000 MANA / 2.4 million dollars
Massive Genesis Plaza Estate – 29 November 2021 – 210,000 MANA / 1.08 million dollars
Venture Estates – 10 December 2021 – 300,000 MANA / 1.03 million dollars

Somnium Space

Compared with Decentraland, Somnium Space is more advanced, but also more complex. Somnium Space supports VR headsets and body movements. Really advanced stuff. This makes getting into Somnium Space a bit more complex, which is something the developers are trying to improve. .

In Somnium Space there are various attributes to influence the value of land. Of course size is important, but more characteristic is whether the land is adjacent to a road and has a view on the lake. There are parcels in Somnium Space that have their land connected to the lake, allowing landowners to build a dock.

The most expensive land purchases have been:

28 Land Parcels – 16 March 2021 – 250 ETH / $444,460
8 Combined Medium Land Parcels – 5 May 2021 – 99.9 ETH / $335,010
5 XL Land Parcels – 14 May 2021 – 140 ETH / $261,930

The Sandbox

Even though 2021 was a big year for The Sandbox, the game world isn’t fully fleshed out yet. So far only a handful of game experiences have launched, and have been available only to Alpha Pass NFT holders.

Valuation of land in The Sandbox has thus far been based on the size of the estate and the proximity to recognizable brands or communities. The idea is that players will hop from one location to the other, and therefore big lands and brands will attract foot traffic. For example, in recent weeks we’ve seen users pay thousands of dollars to have land next to Snoop Dogg’s virtual mansion.

The most expensive land purchases have been:

24×24 Summer Jam estate – 2 July 2021 – 3.6 million SAND / $874,760
6×6 Estate – 26 December 2021 – 60 ETH / $244,980
Land next to Atari – 26 November 2021 – 44 ETH / $191,190

Cryptovoxels

The next virtual world we will explore is Cryptovoxels. In the virtual worlds users can build anything they want, and the team still regularly mints new pieces of land. However, the most wanted land is in Origin City, the center of the Cryptovoxels world. Because that’s where newcomers spawn. Furthermore, the Frankfurt district is known for having the highest land parcels in the virtual world, giving the district an edge over the competition.

Land in Cryptovoxels has a width, depth and height, each determining its value. Odd sized parcels with low height tend to sell a bit cheaper. Outside of the center of the world, bigger parcels and parcels located next to the water go for a premium.

The most expensive land purchases have been:

70, 74 and 75 Block Fork – 14 February 2021 – 300 ETH / $543,000
4 Rebel Walk – 22 October 2021 – 65 ETH / $267,640
63 Addy Gardens – 23 February 2021 – 90 ETH / $131,480

Axie Infinity

Land in Axie Infinity has no utility yet. However, Genesis land at the center of the game world is the most rare. Savannah land on the outskirts of the game world are logically the cheapest. All land has the same size, but supposedly the type of land will influence the resources it will produce for future land gameplay.

The most expensive land purchases have been:

Genesis land – 24 November 2021 – 550 ETH / $2.33 million
9 Genesis plots – 8 February 2021 – 888.25 ETH / $1.5 million
2x Genesis land – 8 July 2021 – 569 ETH / $1.29 million

Every virtual world has its own quirks, and buyers investing in the metaverse have their own reasons to buy virtual land NFTs. However, no matter where you look, location is a key factor when buying a certain plot of land in the metaverse for a premium price. This can be because of foot traffic or for aesthetic reasons. Next week we will look at other interesting developments in the metaverse, let us know on Discord what you want to learn! 

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