Wednesday, May 5, 2021

Crypto-Backed Digital Land Breaks Record, Sells For $1,500,000 worth of Ethereum (ETH)

As a report as it, a piece of virtual property on the blockchain gaming and trading platform Axie Infinity has broken records after selling for $1.5 million worth of Ethereum (ETH).

In a tweet on 9th February, a crypto and non-fungible token (NFT) investor identified on Twitter as Danny stated that he sold an Axie Infinity virtual estate for 885.25 ETH worth about $1.5 million at current prices, the largest digital land transaction ever recorded on the distributed ledger.

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Danny tweeted, “History has been made! I’ve just sold an Axie Infinity genesis estate for 888.25 ETH (~$1.5M USD). This is the largest digital land sale ever recorded on the blockchain. Congratulations to the new owner – Flying Falcon.”

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Flying Falcon Reveals Reason for Purchasing the Digital Land

In a series of tweets, Flying Falcon, the pseudonymous buyer of the digital land revealed the reason for the huge investment in the digital land in the Axie Land system.

Flying Falcon cites the growth of Axie Infinity as a reason for the $1.5 million investment. In 2020, the game witnessed a 3,063% surge in monthly active users and a 608% increase in marketplace volume.

Flying Falcon noted:

“We’re witnessing a historic moment; the rise of digital nations with their own systems of clearly delineated, irrevocable property rights.

“Axie land has entertainment value, social value, and economic value in the form of future resource flows.

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“As Genesis land plots are the rarest and best-positioned plots in Axie Infinity, they were a natural fit for my thesis. The full estate of nine Genesis land plots maximizes the opportunity ahead.”

“Axie’s 2020 growth, fueled by the secular trend of the digital economy, was by all measures remarkable. Axie holders increased 743%, Monthly active users jumped 3063%, Market place volume rose 608%

“Axie Land is the upcoming metaverse release. Soon players can use Axie Infinity art assets to create their own games and experiences. Festivals, concerts, sporting events. The land is the bridge. The opportunities are endless.

“I am super excited to be part of the Axie community. I am thrilled to be an explorer and builder within the broader Axie nation.”

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About Axie Infinity

Axie Infinity is an Ethereum-based game where players breed, raise, battle, and trade fantasy creatures called Axies, which are valued in the marketplace according to a number of factors including rarity, battle readiness, and appearance.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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