Piece of Virtual Property Backed by Crypto Sells for Staggering $1,500,000 in Ethereum

A piece of virtual property on the blockchain trading and gaming platform Axie Infinity is reportedly breaking records after selling for $1.5 million worth of Ethereum (ETH).

In a new tweet, pseudonymous crypto and NFT (non-fungible token) investor Danny says the sale of the Axie Infinity virtual estate for 885.25 ETH marks the largest digital land transaction ever recorded on the distributed ledger.

Axie Infinity is an Ethereum-based game where players breed, raise, battle and trade fantasy creatures called Axies, which are valued in the marketplace according to a number of factors including rarity, battle readiness, and appearance.

In a series of tweets, Flying Falcon, the pseudonymous buyer of the digital land, shows the strategic position of the digital land that he bought in the Axie Land system.

“As Genesis land plots are the rarest and best-positioned plots in Axie Infinity, they were a natural fit for my thesis. The full estate of nine Genesis land plots maximizes the opportunity ahead.”

Source: Flying Falcon/Twitter

Flying Falcon also cites the growth of Axie Infinity as a reason for the $1.5 million investment. In 2020, the game witnessed a 3,063% surge in monthly active users and a 608% increase in marketplace volume.

“We’re witnessing a historic moment; the rise of digital nations with their own systems of clearly delineated, irrevocable property rights.

Axie land has entertainment value, social value, and economic value in the form of future resource flows.”

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