The current floor price of 2.398 Ethereum for virtual land tokenized as an NFT is 7.22x the current floor price of $20,675 USD.
The collection includes approximately 97,000 plots of land; at the time, each plot is worth $1.
The land plots are 16m by 16m in size, or 52 square feet. Land prices in Decentraland and The Sandbox have risen since Facebook rebranded to meta, as more investors are becoming aware of what the metaverse is.
Because of the size of the lot and its proximity to the metaverse’s core, virtual land usually sells at a premium.
The Ethereum blockchain is home to several open world metaverses, the two largest of which are Decentraland (CRYPTO: MANA) and The Sandbox (CRYPTO: SAND).
Adidas (ETR:ADSGN) and Atari (OTC:ADDYY) have purchased virtual land in these blockchain-based metaverses, and some corporations predict that much of retail will eventually take place within the metaverse.
The term “metaverse” refers to the evolution of human interaction with the internet. As we spend more time on the internet, the gap between our offline and online identities shrinks. The metaverse is eventually envisioned to be an immersive virtual world where people can experience digital ownership and engage with their peers.
Why it Matters? – Following Facebook’s (NASDAQ:FB) rebranding as Meta, investors began to pay attention to platforms that are constructing metaverses.
Because smart contract blockchains can guarantee ownership of digital goods, these networks are critical to the development of the metaverse!
‘Metaverse is an opportunity to spread Indian recipes beyond borders’
Michelin Star Chef Vikas Khanna recently launched his first phygital cookbook in NFT, Sacred Foods of India, and shares why it is the need of the hour.
“NFT is the new language and culture of the world. Bringing the book to metaverse is an opportunity to spread Indian recipes, history and culture beyond borders. Digital is the new way of consuming content and we wanted to be at par with what’s happening. We wanted to celebrate Indian culture with a much bigger audience.”
when asked about how NFT’s will revolutionize the food industry…
“Our generation is between digital and the physical. In the past, we had to travel to different cities and meet chefs to learn how to cook. I remember a European chef wanting to shoot a recipe on video and I was shocked.
“But now I see how it has been revolutionized. Most of the content is consumed online. Books have become very difficult to sell as the market is shrinking and evolving in a digital way.
“In a similar way, blockchains and NFTs are going to revolutionize the food world. In Metaverse, it’s almost as if you are cooking along with someone in your kitchen. This experience is truly amazing.”