Republic Reals have recently set a new ATH value LAND sale for Decentraland, an open-world crypto metaverse game based on Ethereum. The virtual plot of real estate was sold as an NFT in Decentraland for a record amount of $913,000 based on the price of MANA cryptocurrency at the time.
In accordance with the data released by NonFungible, this has proven to be the highest-value LAND sale till now in terms of US Dollars.
However, it should be noted that there have been past sales for more MANA when the currency was worth a lot less.
The record is 2,772,000 MANA in the month of November of the year 2018, which was worth just under the level of $211,000 at the time.
Discussing a non-fungible token acts as a deed of ownership to a digital item and is tokenized on a blockchain in order to be conveniently validated.
NFTs have the potential to take all kinds of forms, from still images to videos and even tweets.
Republic Realm, the company that invests in virtual real estate in crypto games said:
Decentraland is an online metaverse in which the players are provided with an option to freely explore the world, interact with other players, and play games within the environment.
Well, the 3-D game is not the only game based on blockchain build around plots of digital land sold as NFTs either. Axis Infinity and The Sandbox are also on the list of games developed on the Ethereum blockchain and have raked in millions of dollars selling virtual real estate.