Virtual land sales have surged significantly in 2021. A major reason behind the popularity is the trend brought by crypto-based games and Facebook’s surprisingly quick adoption of the metaverse.
Among the sudden rush, users cannot forget that names like Axie Infinity, Decentraland, and The Sandbox have been selling digital land for years. Purchasing a digital piece of land sounds outlandish even in 2021, making it hard to believe that The Sandbox took the risk two years ago.
The game started offering virtual plots in 2019, attracting users through its SAND and LAND NFTs. Sebastian Borget, The Sandbox COO and co-founder, recently talked with Decrypt regarding the game. The COO validated the game’s vision for a user-customizable, community-owned game.
Although the game is not completely open to the public, users are still trading LAND packages to build on them in the future. Sebastian added that the map changes every day as new communities and landowners decide on their next project. It seems like a digital nation – breathing and living. It has a culture and is global, and users can easily access it.
Nobody can deny the keen similarities between The Sandbox and the renowned Microsoft-backed game Minecraft despite the claims. Both games offer a digital playground filled with blocks to play and build on the surface. However, the most notable difference between the two comes from digital asset ownership.
Users can buy land on The Sandbox to create their customized experience. Each plot boasts an NFT acting as a blockchain-supported ownership deed for the item. People buy these plots for numerous purposes. The first and the most popular reason behind it is a speculative investment. With NFTs and blockchain gaming surging in popularity, games like The Sandbox boast ample chances of rising in value.
Moreover, players can build on the lands, whether it is to develop an NFT gallery or community hangout space. Players can even build games on the lands, meaning their efforts can be monetized. The Sandbox also allows users to lend their land and incur a fee for it.
With names like Snoop Dogg buying into and supporting the idea of NFTs, the metaverse is quickly garnering acceptance. People are paying hefty funds to acquire plots near Snoop’s land. A fan even purchased land for over 450,000 dollars, which is adjacent to Snoop’s land.
As brands like Atari, The Walking Dead, and Adidas have also purchased lands on the game, its value proposition is a given.