Virtual Property Sells for $1.5M in Ether, Smashing NFT Record

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A piece of virtual land on the blockchain marketplace and the Axie Infinity gaming platform has just been sold for a record amount in cryptocurrency.

At around 23:00 UTC on Monday, one of the platform’s newest community members, Flying Falcon, bought the digital estate of nine neighboring Genesis blocks for 888.25 ethers, then approximately $ 1.5 million.

The transaction marks the largest NFT (Non-Fungible Token) transaction ever tracked by the Crypto Collectibles data site NonFungible. The NFT “Formula 1 Grand Prix of Monaco 2020 1A” from F1 Delta Time previously held the record at USD 224,111 at ETH, the website CoinDesk announced.

“Since Genesis lots are the rarest and best-positioned lots in Axie Infinity, they naturally fit my thesis,” Flying Falcon told CoinDesk via email. “What we are experiencing is a historic moment. the rise of digital nations with their own system of clearly defined, irrevocable property rights. “

While the “Epic 9” lot is by far the largest sale in the NFT sector to date, there are roughly three other lots that are much higher: from 100 to 10,000 ETH.

Genesis NFTs are restricted supply virtual plots that have “unique aesthetics” and prime positioning within the Axie platform.

“As the largest digital land sale of all time, this marks a significant development in the brief history of the NFTs,” salesperson Danny (who preferred not to provide a last name) told CoinDesk. “Virtual economies will be the new frontier for an increasingly digital world.”

The virtual land assets will be used for an upcoming game mode known as Axie Land, also known as Project K.

Danny recently purchased a rare digital artwork from Hashmasks for 420 ETH (around $ 650,000 at the time of purchase, as CoinDesk reported last week.