Republic Realms is a sublime real estate company that splashed out $4.2 million on land in The Sandbox, comprising 100 private islands that have exploded in value.
CEO Janine Yorio told CNBC that her company originally sold the island for $15k per year last year.
“Today, they sell for about $300,000 each, which is coincidentally the median home price in the US,” she told the outlet.
The company’s acquisition of digital land last November was the largest land acquisition Sandbox has ever seen.
Republic Realm acquired 792 plots of land in The Sandbox with 3 square miles of in-game land.
A 24×24 lot, in a prime location, was acquired by Atari, with the real estate broker co-developing some of the land with the company.
Yorio says that neighbors are just as important as location, telling CNBC:
“I think who your neighbor is is totally important. That’s true for most things, isn’t it?
“It’s like a club and you want to be around people with similar interests.”
Republic Realm’s massive acquisition has eclipsed a $2.4 million virtual real estate in Decentraland.
That particular transaction took place just a week ago, with Metaverse Group buyers saying their Decentraland property has since grown 500% in value.
Land for sale Sandbox Mega City is providing an opportunity for interested parties to add to their virtual real estate portfolio today.
Prices start at £3,316.81 / $4,558.34, so if you have a crypto wallet full of MANA you can splurge.
Be warned that cryptocurrencies and NFTs are risky investments, especially when there’s no physical evidence that you own anything.
If someone pulls the plug on The Sandbox tomorrow, your blockchain receipt won’t mean much, so do your research and due diligence before joining.
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https://www.thesun.ie/tech/8200856/my-15k-islands-in-the-sandbox-now-worth-30k/ I sold 100 lots in The Sandbox supermarket for $15k per year – now they’re worth $300k