This week Somnium Space will organize the final and most exclusive land auction for their promotional Road to Second Land Offering period. The development team is auctioning the four biggest estates inside their virtual world and 35 additional parcels. The auction will start on Thursday May 21st.
A total of 28 XL land parcels create the biggest estate that Somnium Space will sell through an auction. XL parcels hardly end up on the public marketplace, even though one sold this week for 6.88 ETH and is now available again for 29 ETH. These are highly speculative parcels. The single land parcels or sold in a Dutch auction, during which the price drops until someone buys it. These four huge estates have a starting price that can only go up. For example, this biggest estate starts at 160 ETH, which is 34 thousand dollars.
Not all land during this final Somnium Space auction can be bought using Ethereum. Some of the parcels can only be bought with the Somnium Space in-game currency Cubes. The auctions start on Thursday around 15:00 CET, and they will finish on Saturdays around the same time.
Available parcels in virtual worlds
Below you will find the total amount of available parcels per virtual world, and the average selling price right now on OpenSea. This doesn’t mean that all parcels in these virtual worlds are available on the market yet. For example, both Somnium Space and The Sandbox still need to sell considerable amount of land. In addition Cryptovoxels is expanding its world with new island, as Origin City sold out.
- Cryptovoxels – 3116 tokens – avg 1.87 ETH ($398)
- Somnium Space – 5411 tokens – avg 2.96 ETH ($631)
- Decentraland – 96.290 tokens – avg 5.26 ETH ($1121)
- The Sandbox – 24.962 tokens – avg 0.90 ETH ($192)
For any of these virtual worlds the price of virtual land has increased tremendously in the past few months. Virtual land is now worth more Ethereum, and on top of that Ethereum has increased in value.
Getting started in Decentraland, Cryptovoxels or Somnium Space could be a bit pricey for gamers. The Sandbox is using a more friendly approach by selling all their land for a fixed price around the 40 dollars. Bigger patches of virtual land are more expensive. Gamers and investors can buy virtual land during every land sale on a first-come-first-serve basis. Their fourth and final pre-sale is approaching, but not date has been announced yet.
One year ago the average price for land in Cryptovoxels was less then one hundred dollars. Now the price has risen to 500 or even 700 dollars average. Without a doubt virtual land is in high demand. These are among the most traded tokens on OpenSea. On a weekly basis these projects top the charts in terms of total trading value.
Also published on Medium.