The NFT craze is extending into digital “real estate,” which is now attracting millions of dollars from investors.
In January, NFT investor Polyient Games paid $800,000 for one of five “kingdoms” in the unreleased role-playing game “Mirandus,” the Wall Street Journal reported. A month later, a mystery group of buyers paid $1.6 million for another kingdom in the game.
Mirandus has just 1,625 “deeds,” and investors are betting that demand will rise, which could help generate in-game income tied to a digital token.
Another NFT-based game, “The Sandbox,” sold around $2.8 million worth of land last month. The game’s creators claim its digital land is worth around $37 million.
The game’s landowners can create their own programs using “The Sandbox”’s creator, accessible only on their land. They can also tie in-game collectible items to those properties to boost their value.