Gamers and opportunist crypto traders have invested almost one million dollars in virtual land in the past seven days. Decentraland, Cryptovoxels and The Sandbox all together have seen a total trading volume of 944.506 dollars, according to data collected by Nonfungible. This includes direct sales and trading on the secondary market.
The Sandbox is currently organizing its second land sale, selling roughly seven percent of its virtual land. With over six thousand sales and an average price around 28 dollars, The Sandbox gathered 168 thousand dollars. Currently roughly 300 pieces of land are still available.
In terms of trading volume Decentraland is absolutely the biggest player out there. This virtual world will launch on February 20th and is getting lots of traction from investors and gamers alike. Players can buy their virtual names, secured through Ethereum Name Service Domains, or virtual clothing and accessories. At the same time investors are buying virtual land. In the past seven days Decentraland had 572 thousand dollars in trading volume. Cryptovoxels isn’t doing too shabby either, with 204 thousand dollars and the highest average price at $1569.
Consumers no more!
Virtual land in these digital world can be owned by players themselves. They are free to build whatever they want, and to monetize whatever they want. As a result this free digital market will attract both hobbyists and business opportunists. User generated content is getting a new meaning, as ownership will break users free from the traditional ‘consumer role’. No longer are players merely consumers, but they are contributors to a virtual world in which creation and contribution has real value.
Player governance is something that will grow in the years to come. As development continues, player will be able to even get a say in the future of these worlds. Just like people get to vote for a government in real life. In addition some people will have their job inside Decentraland or The Sandbox, while others extend their job into these virtual worlds.
When we speak of the new frontier we often refer to space, other planets, and a base on Mars. But these virtual lands, these are the new wild west where the bold will succeed and anybody can make it.
Also published on Medium.