Virtual yacht sale on Metaverse for $650k

Virtual Yacht Sold for $650,000

MetaversePlanet December 18, 2021Last Updated: August 14, 2024

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In an eye-opening transaction in The Sandbox metaverse, a virtual yacht has been purchased for an astonishing sum of $650,000.

To be crystal clear, a buyer has invested $650,000 in a yacht that exists solely within this digital universe, and not in the physical world.

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Virtual Yacht Sold for 650 Thousand Dollars

For a bit of perspective, TechSpot’s report suggests that $650,000 could actually secure a real-life ultra-luxury superyacht equipped with a helipad, a DJ booth, and a hot tub.

But the question worth pondering is whether such an investment makes sense if the yacht exists only in the digital realm.

The sum of $650,000 is roughly what the new owner of the breathtaking Metaflower Super Mega Yacht has shelled out for the privilege of owning a luxury NFT specifically crafted for The Sandbox, as listed on OpenSea.

Sandbox Metaverse Blows Up Amid Hype

The Sandbox has been making waves in the cryptocurrency world, particularly with its token, SAND, which has seen a significant surge in value since Facebook announced its rebranding to Meta. The Sandbox is essentially a virtual realm where gamers can create, own, and even profit from their unique gaming experiences.

The virtual ship, sold for an impressive $650,000, was crafted by Republic Realm, a platform dedicated to innovating and investing in the metaverse and NFTs, and is part of its Fantasy Collection. Business Insider reports that this NFT holds the record for being the most expensive token ever sold on The Sandbox.

Presence of the Virtual World

In early November 2007, an enthusiastic metaverse investor reportedly spent a whopping $2.5 million to acquire a digital parcel of land within another metaverse platform, Decentraland, as stated in a CNet article. TechSpot weighed in on the issue, stating that some perceive the metaverse as essentially a perpetually existing virtual world, a concept that has been around since the inception of Second Life in 2003.

However, more contemporary interpretations of the metaverse conceive it as a three-dimensional evolution of the internet that extends beyond the confines of a mere video game. Yet, it’s important to note that sales of virtual commodities within gaming environments have been occurring for several years now.

Metaflower Super Mega Yacht 149 Sold to WETH

At this stage, the metaverse likely raises more questions than it provides answers, especially considering its rapid evolution. In a recent development contributing to the escalating NFT hype, Hypebeast reported that the Metaflower Super Mega Yacht went for 149 WETH, or Wrapped Ethereum.

A PCGames article noted that despite its unremarkable 3D model, this luxury vessel will take its place within The Sandbox, a metaverse based on blockchain technology. Interestingly, its low-fidelity aesthetic and focus closely resemble Roblox, albeit with a much more ambitious monetization scope.

Furthermore, according to an FXStreet report, The Sandbox Alpha is set to offer players 18 unique metaverse experiences exclusively on November 29. In anticipation of the Sandbox Alpha launch, the SAND token witnessed double-digit gains overnight, pushing the coin to a new all-time high of $8.40.