Crypto Investor Buys Virtual Land for $1.5 Million

Nowadays, the world of cryptocurrencies keeps springing up surprises and positive news on the way people keep investing huge sums of money in cryptocurrencies. One surprising statement is a parcel of land in the form of NFT which was recently bought at a whopping $1.5 million. The record transaction was sealed at Axie Infinity that occupies a wide variety of NFTs availsd by Axies– fictional creatures that are among the inhabitants of Lunacia, a virtual environment managed by the player base. Such transactions is one of the testaments that there js a positive outlook ahead for the crypto property.

The Value of the Digital Land Surpasses the Price of Real Land

The transaction was sealed on 8 February this year when one of the Axie members decided to buy some digital virtual land in “Lunacia,” measuring nine plots purchasing with a sum of 888 worth of ether. If the number is broken down, it will be worth a sum of $1.5 million. It is noteworthy that the players possess only 19% of the land in Lunacia, an equivalent of 90,600 plots.

The huge sum paid for the virtual land can buy a wide range of assets and properties In real estate.. For example, the $1.5 million can purchase real estate in Santa Barbara, a 25-acre land in Louisiana or an ocean-view ven a luxury condo in Singapore. The buyer, hiding behind a pseudonym, Flying Falcon, tweeted about the record transaction.

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He stated that the transaction is historic because it serves as the beginning of digital nations, which will have their irrevocable lawful property akin to what is applicable in the physical world. The anonymous buyer added that the humongous amount paid for the Axie property stemmed from the fact that Axie is rich in social and entertainment values and will soon be rich economically following the inflow of funds to the place.

Axie Enjoying Massive Growth

The wealthy digital property owner narrated how Axie started developing last year. He reported how NFT holders had now gained 743% of their capital, with market values rising by 600%. The number of active users of the platform rose by 3,000% recently. This transaction will mark the anniversary of the Mainnet launch of the place. Axie was founded to enable players to relieve pressure as regards the gas fee and Ethereum congestion. Axie Infinity refers to a game built for Ethereum that allows players to develop, raise, fight and exchange fantasy creatures called Axies. The values of these creatures depend on several factors, such as the preparation for battle and the ability to be rare.

The anonymous buyer explained the premium value of his digital land that he purchased at Axie. He said his land is unique and in a strategic location, thereby paving the way for more future opportunities. Virtual property refers to an environment reserved for people to enjoy a pleasant life different from their day-to-day experience. Once the virtual world is unlimited, there is an endless possibility of growth and virtual property development. In other words, the virtual property allows you to enjoy anything you desire. The virtual property can be a game, a setting, an experience, etc.