Crypto Gamers Spent Nearly $1 Million Last Week Investing in Virtual Land

Last week alone, gamers, virtual reality and crypto enthusiasts, have invested nearly a million dollars in virtual properties generated and managed by blockchains.

Crypto Gamers Spent Nearly $1 Million Last Week Investing in Virtual Land
virtual land crypto gamers

Last week alone, gamers, virtual reality and crypto enthusiasts, have invested nearly a million dollars in virtual properties generated and managed by blockchains. For the three largest games in the virtual world created on blockchain, The Sandbox, Decentraland and Cryptovoxels, the total trading volume of their digital tokens rose to almost $1 million. Data emerges from Nonfungible portal.

Decentraland, the largest of the three platforms in terms of trading volume, generated over $620,000. Gamers rushed to buy virtual real estate in the blockchain-based digital world as the launch is imminent on February 20. With the Ethereum blockchain, players can buy and secure their virtual names (which are registered through Ethereum name service domains), while virtual clothing and player accessories are also offered for sale.

The Sandbox also saw an influx of crypto investments. The virtual world created on the blockchain sold about 7% of its virtual land. The Sandbox raised $182,000 from the sale last week. The platform registered over 6,000 sales to Sandbox players and the average order was $28. 300 plots are still available, but the number is declining quickly. Players are also investing in other platforms like Cryptovoxels, which drives the total amount almost into the seven-figure range.

Within the video game industry, there are also other use cases of cryptocurrencies. For example, a new Minecraft server, SatoshiQuest, went live earlier this month. This Minecraft world enables players to take part in a Bitcoin treasure hunt. The rewards come from a $1 Bitcoin fee for the game.