Metaverse: Non-existent yacht sells for $6,50,000 in most expensive NFT deal

A yacht built only of bits and bytes has just sold for a jaw-dropping amount in the meta verse.

The metaverse -- or virtual universe -- has been buzzing with activity with record deals in land and other non-fungible tokens (NFTs) in the past few days. The latest deal that has caught everyone’s attention is the sale of a mega yacht called Metaflower in the Sandbox metaverse for a staggering $6,50,000 (about Rs 4.8 crore). The Metaflower Super Mega Yacht sale is the most expensive NFT deal in the Sandbox metaverse, a virtual world built on the ethereum blockchain.  

The four-storeyed yacht, sold by metaverse developer Republic Realm, comes with two helipads (with two non-existent helicopters being sold separately), several lounges, a dance floor, and a jacuzzi. The Metaflower is an extension of the luxurious Fantasy project, through which many premium assets will be launched over time. The Fantasy Project will consist of speedboats, jet skis, marinas, beach clubs and private islands.  

The extent of the metaverse’s popularity became evident when virtual assets begin selling like hot cakes for surreal prices. One of the most popular metaverse games, The Sandbox, has ties with renowned brands like Atari, Adidas, Snoop Dogg, Deadmau5, The Smurfs, etc.  

In September, the star American rapper, Snoop Dogg, revealed that he had scooped up some premium property in the Sandbox metaverse as well. On December 2, a ‘Snoopverse Land Sale’ went online, allowing buyers to purchase real estate adjacent to the rapper’s digital property.   

The virtual plot adjacent to Snoop Dogg’s was sold for $4,00,000 (71,000 SAND--the native cryptocurrency of the Sandbox metaverse). The buyer, who goes by the alias ‘P-Ape,’ owns several sought after NFTs and is known to be a collector.  

Republic Realm has also developed ‘Fantasy Islands,’ a set of 100 private islands with virtual villas built on virtual real estate. The islands were sold out within 24 hours of their launch for around $2,80,000 (63.9 ETH).

Also read: What is Metaverse and what are the key projects you should look out for?  

As of last week, the Sandbox bagged the highest seven-day sales numbers, with 4,433 sales amounting to $70 million, per nonfungible.com. The same week’s land sales raked in $61,500 - $69,000 per plot (14-15 ETH per plot).  

Virtual real estate is becoming increasingly popular among brands and connoisseurs. The metaverse has created a new universe of possibilities for brands and influencers to expand their outreach and enhance consumer interactions.