NFT-based real estate investments are proving to be worth every penny nowadays. Everywhere you turn, there seems to be a story about an NFT piece selling for a jaw-dropping figure.
Last Wednesday, one extravagantly rich investor, identified as “Lunacian #789512,” exchanged 550 Ethereum tokens for a genesis plot of land on Axie Infinity.
Here’s the most expensive NFT-Based land ever
The purchased tract is one of Genesis’ 220 landed properties on the NFT-based online game.
Using the CoinMarketCap cryptocurrency converter, the 550 Ethereum token paid for the plot returned a value of $2.2 million, making it the most expensive single piece of digital land ever bought.
Earlier in February this year were traded for 888 Ethereum, that’s well over $3 million at press time.
The NFT and metaverse industry has experienced a boom in recent months, owing to Facebook’s decision to change its name to metaverse.
Axie Infinity is a play-to-earn NFT-based game built on the Ethereum blockchain.