Virtual Land on Blockchain Sold for over $1 million Worth of ETH

A virtual property has just been sold for a record-breaking sum in crypto assets. The property, a virtual land on blockchain marketplace and gaming platform Axie Infinity was sold for 888.25 units of Ethereum token which translates to roughly $1.5 million at the time of purchase.

The transaction was carried out by new members of the community; flying falcon who purchased the digital estate of nine adjacent Genesis blocks from Danny. According to a crypto collectibles data site, NonFungible, this transaction is the largest non-fungible token (NFT) transaction of all time beating the previous record set by Formula 1 Grand Prix de Monaco 2020 1A. Then, this virtual asset was sold for $224,111 worth of Ethereum.

Flying Falcon who purchased the property was quoted to have said the virtual “Genesis land plots were the rarest and the best-positioned plots in Axie Infinity” that were a natural fit for his thesis. Danny, on the other hand, believed that “virtual economies will be the new frontier for an increasingly digital world.”

It is important to note that there are other plots on the NFT that could go for as high as 10,000 ETH which means this record might be tested soon. The virtual Genesis lands are unique because of their limited supply-cap and due to the fact that they take a unique position within the Axie platform.

The virtual asset would be used for the development of an upcoming game mode that is known as Axie Land.

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