Snoop Dogg has recreated his California mansion on The Sandbox, a decentralized Ethereum-based metaverse.
A plot of land next to Snoop Dogg’s hypothetical estate sold today for approximately 71,000 SAND (about $450,000).
Virtual land in the Sandbox is sold as NFTs, which are unique tokens that give title to digital items in this case, plots of digital real estate.
Sandbox LAND NFT can be bought and sold just like any other NFT on platforms like OpenSea.
In response to the news that a plot of land next to his house had sold for $450,000, Snoop Dogg tweeted, “Wouldn’t you be my neighbor.”
— Snoop Dogg (@SnoopDogg) December 3, 2021
Matthew Nozareth, a board member of The Sandbox, told The Sandbox that the company had contacted Snoop about the collaboration, saying:
He was very interested in Sandbox.
We will do multiple things with him.
The next campaign is going to be about selling LAND with Snoop Dogg, and then we have this big concert.
We’ve sold 1,000 tickets, and it’s coming early next year.
The buyer who paid $450,000 for a plot of land next to “Snoop Dogg” is an NFT collector dubbed “P-Ape.”
According to the private OpenSea account, this account has additional notable holdings such as:
“Bored Ape #6445” and “Mutant Ape #11089”.
This massive “Sandbox LAND” auction price suggests that some are willing to pay the average price of a multi-bedroom home in Phoenix, Arizona, for a virtual 3×3 plot of land in the “Snoopverse.”
Notably, a huge amount of capital is pouring into the metaverse, with more than $100 million invested in virtual real estate just last week.
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