These are pieces of land that exist in virtual worlds. Depending on the metaverse, the land can be used for various things. It can be traded, used for real estate purposes, or used to build offices, casinos, parks, or museums. There are two metaverses right now where you can own landed properties.
One is The Sandbox. The LANDs on The Sandbox is a digital piece of real estate that can create experiences or is populated with ASSETs. Over 166,000 pieces of LAND exist on the Ethereum blockchain. A conglomerate of LANDs forms an ESTATE, and an ESTATE owned by different people form a DISTRICT.
The Sandbox virtual map can be used to check the land use and distribution. It has a floor price of 3.3 ethers with other 18,800 owners right now. A total volume of 139,800 ethers has been traded for LANDs.
The Sandbox in itself is a play-to-earn metaverse that was launched in 2020. SoftBank, Atari, CryptoKitties, Snoop Dogg, and The Walking Dead have stakes in The Sandbox.
The other is Decentraland. It was created by Esteban Ordano and Ari Meilich and was launched in 2017. At launch, its LANDs were sold for about $20. It has over 97,000 parcels of land and is worth thousands right now. It was one of the metaverses built on the Ethereum blockchain.
It has a floor price of 4.159 ethers, and about 6,500 parcels of land have owners now. It has been involved in trades of over 235,000 ethers.
