Sin City: Another virtual land sale is scheduled for February. And it’s expected to be as obnoxious as the last sale.
The R-rated Metaverse Sin City held a virtual ‘land’ sale last December. Raking in millions, the sale broke brains across the world as people wondered why humans would buy virtual real estate. Meh, fortune favours the bold.
The digital dirt extravaganza brought in big profits for the creators. Which is nice work if you can get it. And even better, landowners don’t even have to mow the lawn or put up with annoying tenants. The cost of the land? 4,000 SIN per parcel (around $900 at the time of writing).
So who is snapping up virtual land in this Initial Land Offering (ILO)? Why aren’t they buying real land? DEAR GOD WHY AREN’T THEY BUYING REAL LAND?
Sin City Speculators
Speculators in this part of the Metaverse are as brave as hell… just like the initial punters who bought into bitcoin in the early days. This is spicy gambling at its finest.
Clearly bravery isn’t for everyone. Maybe one day we will look back upon this event from the future and wonder what possessed human to buy digital dirt. But if the speed of ‘land’ sales is anything to go by, this could be the best idea that speculators in the Metaverse ever had. The early birds and all that. Also something about location, location, location. All clichés apply here.
To these investors, the land sale was simply another way to speculate. This ‘real estate’ could be worth a bomb in the future. Compared to what you could lose in real-world property markets, $930 on virtual land almost seems like a sensible investment. And we have all seen real-world property prices go wrong. Take the Celtic-Tiger property crash, for example. That one stung speculators like hell. Some of us are still red from the experience. Sometimes, real-life real estate sucks. At least you get to bathe in vice in this world.
The Gaming Connection
As for Metaverse land buyers, there may be method in their madness. The Sin City land sale is a little different to other metaverses. The plots are connected to the NFT game that is currently in the development phase. This means that landowners will have advantages when it comes to survival and earning potential in the Sin City gaming environment.
Cities (built on severe naughtiness) are the key to this play-to-earn game. Participants can build their kingdom and commit crimes to become the ultimate KingPin. Although, this Metaverse isn’t for your standard Karen. It is laced with violence and gore. But hey, on the upside, you can also invite your mates to play – if you have any. They can help you out, or steal all your stuff. That’s what friends are for.
Source: https://beincrypto.com/sin-city-metaverse-land-sale-sold-out-in-under-two-hours-netting-3-5m/