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Virtual Property Sells for $1.5M in Ether, Smashing NFT Record

  • Posted On - 2021-02-10 10:52:55

A piece of virtual space on blockchain marketplace and gaming platform Axie Infinity has just closed a deal for a record-breaking amount in cryptocurrency.

One of the platform’s newest community members, “Flying Falcon,” purchased the digital estate of nine adjacent Genesis blocks for 888.25 ether, around $1.5 million, at the time on Monday,

The transaction marks the largest non-fungible token (NFT) transaction of all time, superseding the previous $800k record made by Polyient Games and their purchase of “the Citadel of the Sun” from Gala Games.

“As Genesis land plots are the rarest and best-positioned plots in Axie Infinity they were a natural fit for my thesis,” Flying Falcon said to CoinDesk in an email. “What we’re witnessing is a historic moment; the rise of digital nations with their own system of clearly delineated, irrevocable property rights.”

Meanwhile the “epic 9” plot is by far the NFT sector’s largest sale to date, there are more three other plots going up from 100 to 10,000 ETH.

Genesis NFTs are supply-capped virtual plots featuring a “unique aesthetic” and prime positioning within the Axie platform.

“As the largest digital land sale ever, this marks a significant development in the short history of NFTs,” the anonymous seller, Danny told CoinDesk. “Virtual economies will be the new frontier for an increasingly digital world.”

The virtual land properties will be used for an upcoming game mode called Axie Land, aka Project K.

Danny has recently purchased a rare Hashmasks digital artwork for 420 ETH (around $650,000 at the time of purchase) as CoinDesk reported past this week.

Source: https://www.coindesk.com/axie-infinity-virtual-land-record-eth-sale