22/06/2021 Virtual Real Estate Plot on 'Decentraland' Sells as NFT For Over Rs 6 Crores
A patch of virtual land in the blockchain-based online world Decentraland sold for more than $900,000 on Thursday, in a record purchase for the platform, the Decentraland Foundation said. In Decentraland, ownership of virtual land is bought and sold in the form of non-fungible tokens (NFTs). An NFT is a kind of crypto asset which records the ownership status of digital items on the blockchain. The buyer was an investment vehicle called Republic Realm, a digital real estate investment fund, the Decentraland Foundation said. Republic Realm is owned by Republic, a U.S.-based investment platform backed by investors including Binance and Prosus. It was the most expensive purchase of NFT land to date, according to DappRadar, a website that tracks NFT sales data.
Made up of 259 units or “parcels" of land, the plot of virtual real estate represents 66,304 virtual square metres (16 virtual acres), making it also the biggest Decentraland land purchase in terms of virtual size.
The purchase was made using MANA, Decentraland’s own cryptocurrency. The land cost 1,295,000 MANA, which was worth $913,228.2 at the time of sale.
Blockchain-based real estate in virtual worlds has surged in price as part of the NFT market frenzy which began in early 2021.
In virtual worlds such as Decentraland, people can display their NFT art collections, walk around with friends, visit buildings and attend events.
As part of a recent Sotheby’s NFT sale, the auction house opened a virtual replica of its London building within Decentraland and exhibited the NFT artworks there, attracting more than 3,000 virtual visitors. read more
In another blockchain-based virtual world, The Sandbox, a patch of virtual real estate sold for around $650,000 earlier this month, the site’s co-founder Sebastien Borget said.
Meanwhile, in Somnium Space, an estate which fetched $500,000 in March is still the record high, Somnium Space’s founder and Chief Executive Artur Sychov said.
Made up of 259 units or “parcels" of land, the plot of virtual real estate represents 66,304 virtual square metres (16 virtual acres), making it also the biggest Decentraland land purchase in terms of virtual size.
The purchase was made using MANA, Decentraland’s own cryptocurrency. The land cost 1,295,000 MANA, which was worth $913,228.2 at the time of sale.
Blockchain-based real estate in virtual worlds has surged in price as part of the NFT market frenzy which began in early 2021.
In virtual worlds such as Decentraland, people can display their NFT art collections, walk around with friends, visit buildings and attend events.
As part of a recent Sotheby’s NFT sale, the auction house opened a virtual replica of its London building within Decentraland and exhibited the NFT artworks there, attracting more than 3,000 virtual visitors. read more
In another blockchain-based virtual world, The Sandbox, a patch of virtual real estate sold for around $650,000 earlier this month, the site’s co-founder Sebastien Borget said.
Meanwhile, in Somnium Space, an estate which fetched $500,000 in March is still the record high, Somnium Space’s founder and Chief Executive Artur Sychov said.
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The Scion
A young figure caught in a moment of distraction, aware only ephemerally of his unconscious being, as it engages in psychological and psychedelic layer spaces. His right arm casually cradles a moray eel; the figure is comfortable but not truly aware of the potentials for danger in such negligence. His shirt reads “Bello” in Pokemon style font, harkening back to a childhood straddling the millennial threshold. To his right side, out of the unconscious deep, shrouded alien heads propagate as a fractal totem, each new iteration a more sophisticated rendering of emotional masking over the cold mystery of the greys.
As the scion of the Budgie-Sattva, the young man, in his distraction, is also simultaneously aware of higher levels of self discovery. To his left a psychological topology sets beneath the oracle side of an 8 ball ,hovering; its message a purest concept of acceptance. The “Scion” lettering is in 80’s HeMan style bold declaration. The lower right side of the painting is like a hybrid of melon, feathers, and seeds. The crystals in the background bring light; conducted, refracted, reflected, and dispersed, to balance the dark shadow of the figure’s physical body.
The aura of the scion succeeds in layers to point, with a finger, and the crown chakra, toward a center of a mandala existing as nigh pure application of strokes, in essence painterly abstraction, but also revealing hints of the Aura of migraine, and the bi-hemispherical nature of the brain–noting concerns of the possibility of inherited mental disease. Yet the flourish of chakra as it sets against that center is robust, active, coherent, and reveling against all fear.
Fundamentally, the piece speaks to the activation of one’s potential to begin to “Know Thyself”, and find greater awareness out of the enigmas of the mind–as an inculcated seed given to the rich soil of one’s own birthright.
P. Stripy
Yo! I'm P. Stripy. I enjoy spinning sick beats, watching Stranger Things, and glaring at the neighbour's cat. My great-great-great-great-great-great grandkitty lived with Martin Luther King Jr.. I hope we can be pawmates.
Really Remote Working Part 2
The second imagined space in the series. Created during the lockdown period whilst being confined to the same place every day, this piece is part of a series of imaginary places that I dreamed of being able to work from.
Alien
There are infinite worlds in the Universe with infinite sentient beings inhabiting them.
Master autonomously updates once a day at 12am with one of 366 original artworks, showcasing some of the rarest beings, their cities, transport, technology and nature.