or the Metaverse.
Last year, the total value of land in The Sandbox, which is sold via a nonfungible token, or NFT, was estimated to be $167 million. And while land purchased directly from the Sandbox goes for about $400 a parcel, there’s an active secondary market where prices can be many times that. Proximity to land owned by celebrities and big-name brands drives up prices, too: After Snoop Dogg purchased parcels in the Sandbox and christened them “Snoopverse,” one buyer paid $450,000 just to become his neighbor.
Admittedly, at this stage, I would not. I’m pretty bearish on all the metaverse projects I’ve seen, even before the bear market.would you buy make believe virtual real estate, Stan?
Yeah technically no Ponzi scheme there, just taking advantage of bullish speculation.pretty good profit margin on this stuff: someone gives you $500k to buy a nice virtual house in the Metaverse, you enter some keystrokes on your computer and tell them "hey, here you go, that house is all yours", and you pocket a half mil. not a bad way to make a living.
I mean, it's technically not a scam if buyers willfully hand over the money, and get exactly what they paid for, right? there's no bait-and-switch, no Ponzi scheme.