Real estate wars are on in the metaverse, with virtual land sales heating up. The cheapest virtual land on popular metaverse platforms like The Sandbox and Decentraland are selling for 3.7 eth and 3.46 eth respectively (approximately $12,500 and $11,700 at time of writing). The smallest piece of land available in these digital worlds is a 1x1 plot of land, which corresponds to 96 square meters in The Sandbox and 16 square meters in Decentraland.
Zoom Out: DappRadar calls virtual land a “hot commodity” item as more investors are pooling in millions of dollars to get their share of the digital real estate, with one plot of land going for a record $4.3 million in The Sandbox in November. Prices have skyrocketed over the past year, while the smallest plots mentioned above were going for $1,000 in March 2021.
