Virtual Properties in The Metaverse Are Selling for Millions Per Plot
Metaverse environments like the RFOX VALT are beginning to gather lots of steam, with some properties selling for millions of dollars.
We’re undergoing a mad rush for virtual plots of land as more and more tech innovators build out the metaverse. One such property in Decentraland, a pixelated gaming metaverse environment, recently sold for an eye-popping $2.43M!
There’s a lot to be said for selling virtual land on the Ethereum network. And on December 9, another quarter inside the RFOX VALT is hitting the auction block. But, unlike Decentraland’s 1000s of units, the Arakamoto Gaming Quarter contains only 25 plots for sale.
The last quarter inside the VALT, Callinova, sold for over $!M between all 25 properties. This time around, however, things should be much, much different.
Arkamoto is on ETH
The $RFOX token is an ERC-20 operating on the Ethereum network. However, the VALT aims to be blockchain-agnostic and support multiple platforms.
Case in point, all the staking and yield farming activities are on Binance Smart Chain at RFOX Finance. You can also trade $RFOX and the reward-earning $VFOX tokens there for a very, very low fee compared to $ETH transactions.
RFOX’s blockchain network participation also extends to WAX, where KOGs NFTs originate. But those collectibles also have an exciting play-to-earn game attached, KOGs: SLAM!
Now, if you want to become an owner of virtual land in one of the metaverse’s most exciting environments, you must have at least 1 ETH in your MetaMask, WalletConnect, or Trust Wallet.
Aside from having enough funds, you should know a few more things.
All VALT properties are NFTs
Have you heard of Reebok? Who hasn’t? Well, they just minted their 2nd collection of NFTs, this time using the RFOX white-label NFT platform.
The same goes for each SHOP inside the VALT — it’s an NFT as well. That means if you happen to win a SHOP at auction, you can turn to the OpenSea marketplace if you’d like to liquidate your position.
Let’s say you’ve been running a SHOP inside the VALT for a year, accumulating NFT-based merchandise in the process. It’s not just the store that’s an NFT, but also all the items inside.
So, if you want to buy or sell a SHOP, it could be empty or loaded with goods, some of which may have intellectual property rights attached. We can certainly expect to see future SHOPs selling for quite a pretty penny.
Following the Arkamoto auction, the team plans to conduct a buyback and burn program. They’ll take some of the collected $ETH and use it to buy $RFOX at market prices.
We should see a nice bump in $RFOX price then, but as for when, your guess is as good as mine.
Good luck to you if you’re an Arkamoto bidder!