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In the metaverse, NFTs have gained fame for their use in the trading of digital land, e.g. a plot of land next to Snoop Dogg’s mansion in The Sandbox, a popular metaverse game, recently sold for USD 450,000. At the time of this writing, land in The Sandbox can be bought on secondary markets for a minimum price of 3 ETH, or about USD 12,000. As a consequence, the success of digital land trading made crypto enthusiasts.
Real estate entrepreneurs wondered if NFTs could be used for purchasing land in the physical world. Of course, physical land can be expensive, often even more so than digital land. To combat this, crypto entrepreneurs were
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