In Axie Infinity (AXS) a virtual property was sold for 550 Ethereum (ETH) – a new metaverse record.
The crypto game based on blockchain technology Axie Infinity is set in Lunacia, a virtual world in which the Axies live. Lunacia is a virtual world divided into 301 x 301 squares, in which each section is a tokenized piece of land called Terra represents.
Each of these properties is mapped as a non-fungible token (NFT) on the Ethereum blockchain – and therefore only exists once in the Axie Infinity Metaverse. In addition, the plots are divided into different degrees of rarity, which are about different properties feature.
In addition, landowners can upgrade and adapt their properties to accommodate shops and NPCs, produce resources or serve as access points for dungeons. They can also be used to conjure up the so-called chimera.
The latter option in particular can make properties in Axie Infinity particularly valuable. That’s because players will receive Smooth Love Potions (SLP) tokens for defeating the Chimera. These tokens can then be monetized via decentralized or centralized exchanges. In addition, defeated Chimera can drop valuable resources, which can be used to upgrade Axies and upgrade properties let use.
In addition, the virtual properties can be bought, sold or rented to other players at will. The property sold is classified as Genesis Land – the rarest form of virtual real estate in Axie Infinity.
Genesis-Land is strategically located in the center of Lunacia, where particularly rare chimera of the game can be conjured up. Only 220 of 90,601 Axie Infinity lots are Genesis Land.
550 ETH for a rare piece of land in the Metaverse
One of these Genesis lots sold for 550 ETH on the evening of yesterday, November 25th. At the time of purchase, the ETH was worth over $ 2.5 million.
According to the Axie Infinity development team, this was the largest sum an investor has ever paid for a property in a metaverse. However, the new record has so far not benefited the AXS course. Within the last 24 hours, AXS, the native token of Axie Infinity, fell by almost 10 percent and was trading at $ 126.58 at the time of going to press – probably profit-taking as the price had risen enormously in the past few weeks.