Somnium Space #VR Land Sales in #VirtualReality on #Blockchain
The NFT market has slowed down ever since the price of ETH started climbing, but the secondary market trading in Somnium Space VR has been outstanding. In the last 30 days Somnium Space has traded 369.50 ETH, or $150,000 USD, worth of VR Land on the platform OpenSea.io. There could also be more trading happening via closed doors in Discord. In the last 7 days alone, 50 ETH worth of parcels and teleporters sold for a combined value of $18,750. The price of ETH was volatile over the last 30 days so this article uses a base of $375.
There were 5 teleporters sold in the last 30 days via the secondary market, for a combined value of 94 ETH, or $35,000 USD). Of the 5, one was special from the Indiegogo round. There are 25 teleporters minted during the Indiegogo campaign (200% revenue boost) and 25 more during the ILO campaign (50% revenue boost). The teleporter algorithm is complex but mostly pools together all of the teleporter fees from the platform to allocate them based on the highest number of uses and the revenue boost mentioned above. Walking will be the fastest way of traveling for some time which means it will be much faster to get around with 50 teleporters scattered around the world. Not only can you put the teleporter on your personal land for added VR traffic, but you can still share the revenue pool.
There were 54 parcels sold over the last month of which 18 were small (200m2), 19 were medium (600m2) and 17 were XL (1,500m2). The image to the left can be used as a matrix in pricing as well. The lowest priced parcel is likely the small without being on a road or water, while the most expensive is likely the XL size on the water. Personal opinions may differ but $150,000 in sales over the last 30 days depicts this formula to be true.
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