You don’t know the other side of the founder of Grayscale, he is still a virtual landlord!
On March 14, Grayscale founder Barry Silbert retweeted a tweet and commented that “someone just spent $110,000 on Decentraland to buy virtual land in Mexico”. The tweet has now received 380+ likes, and has a lot of hot comments!
In fact, Grayscale founder Barry Silbert is a fan of virtual land games. As early as May 2019, he spent 81,000 US dollars to purchase 64 virtual land , and listed MANA and LPT in his Twitter introduction (now delete).
Decentraland is a virtual reality platform powered by the Ethereum blockchain. Currently, 118,543 land sales have been completed, with a total transaction amount of US$43,381,245.29. The average price of land in Decentraland is approximately $365.95.
A large-scale transaction that once caused a sensation occurred on February 9th. A piece of virtual land (9 adjacent blocks) on the blockchain market and gaming platform Axie Infinity was sold for a record 888.25 ETH. Now The value is $1,598,850.
The user "Faling Falcon" who bought the virtual land tweeted and explained, "We are witnessing a historic moment; a digital virtual country with clearly defined and irrevocable property rights has emerged. The land has entertainment value in the form of future resource flows. , Social value and economic value."
Why players should buy virtual land
1. Digital virtual land has become a new asset class. Its value has grown exponentially, and it is worth considering by investors. It also seems likely to become a viable reserve of wealth, just like real-world artworks and real-world real estate.
2. Market FOMO sentiment (the speculative fear of missing out). This is one of the powerful motivations for people to buy virtual goods. Players may worry about missing some good opportunities, just like Bitcoin, which was once very cheap.
3. High returns with greater probability . Virtual land can provide excess returns because it is consistent with the fast-growing crypto investment field. The ease of land transfer and the continued bull market have helped many people earn thousands of dollars in a short period of time.
4. Opportunities that may appear in the future . Virtual land also brings the possibility of future construction and development, such as establishing an art studio, opening a store, advertising, or just renting it out to others.
5. Easier than buying real real estate . Buying digital real estate does not have the pain points of real-world real estate, such as a large number of procedures that do not need to be completed, and there is no need to carry out land maintenance and pay taxes. The characteristics of the blockchain also make land purchases safe and traceable.
6. Low barriers to entry . Land prices in many parts of the world are very high. The purchase of real land may be out of reach for many people, but the price of virtual land is often less than 1%, which has little impact on personal finances.
The founder of Grayscale Barry Silbert is keen on virtual land, and his own super influence will promote this ecosystem, allowing many novices to discover a new method that is both fun and profitable.
When an asset is regarded as a tradable asset, in most cases, players will forget the usefulness of the asset in question, but this does not prevent players from making profits through speculation. The real question that needs careful consideration is whether the market has reached the point where the original value is forgotten, or whether these assets are really undervalued.
Content reference: https://medium.com/predict/are-people-crazy-to-buy-virtual-land-for-millions-of-dollars-f7e9a0411af2
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