Sandbox sells $450k plot of land next door to Snoop Dogg

An NFT collector by the name of P-Ape has spent $450,000 for a plot of Metaverse land neighboring Snoop Dogg in a game known as The Sand Box.

The NFT community was recently surprised to find that Cozomo de’ Medici was actually Snoop Dogg, the famed rapper.

The news of the latest high-profile land purchase follows sales of metaverse land skyrocketing over the past week and reaching $100m.

Snoop Dogg has chosen to recreate his famed Californian mansion in The Sandbox. A plot next to this digital property fetched 71,000 SAND tokens, the native currency based on the Ethereum blockchain.

The plot was sold in the form of a non-fungible token (NFT) which serves as a deed of ownership that authenticates that a particular individual is the rightful owner.

Land NFTs can be re-purchased if the owners want to sell them. Buyers can scoop up a piece of land they may choose to “move into” themselves or just sell later at a markup.

Snoop Dogg caught wind of the news and tweeted, “won’t u be my neighbor”. The Sandbox listed two more virtual plots of land that are selling for 55,000 and 67,000 SAND or $338,000 and $410,000 respectively. The trio of plots has been aptly named the “Snoopverse”.

Meanwhile, P-Ape has a few noteworthy NFT holdings, including Bored Ape #6445 and Mutant Ape #11089 which presently cost 150 and 80 Ethereum respectively.

Interestingly, P-Ape has taken down his OpenSea page, seemingly to cover his tracks, probably seeking anonymity.

As land sales across the metaverse increase, it seems that The Sandbox has been able to accumulate the biggest share of those deals with $86.56m of the reported $100m in sales going to it.

If you are not into the metaverse (just yet), we recommend exploring other blockchain gaming opportunities such as 1xBit, Bitcasino or Bitcasino.io.

Source

Updated: 12/06/2021 — 09:00