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Phil Hall
Phil Hall
Nov 3, 2020
News

Great Start for Somnium Space Land Auctions

Somnium Space has sold for 29 thousand dollars worth of virtual land in their daily auctions of the Second Land Offering.
Great Start for Somnium Space Land Auctions

Somnium Space has sold for 29 thousand dollars worth of virtual land in their first daily auctions of the Second Land Offering. They sold eight land parcels and one Somnium World, which is a virtual game world within the virtual world. The biggest auctions were an XL-sized parcel for ten thousand dollars, and 5600 dollars for the medium sized virtual world.

These virtual worlds are separate game worlds that can be entered through a portal on existing land. They called this system Somnium Space Worlds, and they announced this two weeks ago. This will add more gameplay mechanics to the world.

Today new auctions are happening. There are XL-sized parcels being sold for the in-game currency Cube and ETH. However, the most interesting auction is the one for a XL-sized virtual world. The current bid on this instanced server is 13 thousand dollars with still 11 hours to go on the auction.

Somnium Space is a virtual world that has had very little activity in terms of land sales. Most of the sales happen on the secondary markets. Small land parcels sell for 750 dollars, while bigger ones go for thousands of dollars.

https://www.youtube.com/watch?v=YARmHLs2BjI&feature=emb_title

What is Somnium Space?

Somnium Space is a virtual world in which landowners can build whatever they want to. The program registers landownership on the Ethereum blockchain. In addition all players can visit these creations and interact with each other. The developers have created Somnium Space with VR headsets in mind, even though players can also access to world through their desktop or laptop.

Value of land in Somnium Space has been increasing incredibly over the year. We can also see this increased demand for virtual land in other virtual worlds and even in blockchain-powered video games. League of KingdomsBrave Frontier Heroes and Axie Infinity are just a few of the examples that offer digital land to their players. Recently The Sandbox did a land pre-sale where gamers and creatives could buy virtual land for 40 dollars. Now the minimum price for land inside The Sandbox is 0.45 ETH, which is roughly 200 dollars.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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