Economy

Virtual Property Is Sold For 1.5 Million Dollars On Ether, NFT Record Is Smashed

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A piece of virtual land on the blockchain market and gaming platform Axie Infinity sold for a record-breaking sum in cryptocurrency.

“Flying Falcon”, one of the platform’s newest community members, bought digital properties of nine adjacent Genesis blocks for 888.25 ether on Monday at around 23:00 UTC, at around $ 1.5 million at that time.

The transaction marks the largest non-exchangeable token (NFT) transaction of all time, as tracked on-chain by the crypto collectible data site NonFungible. The site told CoinDesk that the “Formula 1 Grand Prix de Monaco 2020 1A” NFT from F1 Delta Time previously held the record $ 224,111 in ETH.

Flying Falcon told CoinDesk via email: “Genesis land plots naturally fit my thesis as they are the rarest and best positioned plots in Axie Infinity.” “What we are witnessing is a historical moment; the rise of digital nations with clearly defined, irreversible property rights systems. “

While the “Epic 9” plot is the biggest sale in the NFT industry to date, there are three other plots that go roughly much higher: 100 to 10,000 ETH.

Genesis NFTs are supply-limited virtual graphics that offer a “unique aesthetic” and top-notch positioning within the Axie platform.

“As the biggest digital land sale ever, this marks a significant improvement in the brief history of NFTs,” vendor Danny (who chose not to give his last name) told CoinDesk. “Virtual economies will be the new frontier of an increasingly digital world.”

Virtual land assets will be used for an upcoming game mode known as Axie Land, aka Project K.

Danny bought a rare piece of Hashmask digital art last week for 420 ETH (around $ 650,000 at the time of purchase), as CoinDesk reported last week.

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