Somebody paid roughly $650,000 in ethereum for an NFT yacht that only exists in an also-ran metaverse platform last week. The sale was made by metaverse and NFT developer Republic Realm for the metaverse platform The Sandbox, first spotted by Hypebeast.
A mere $650,000 for an ultra luxury super yacht complete with a DJ booth, helicopter landing pad and a hot tub would be a steal in the real world, but how about in the virtual realm? Time will tell.
That’s roughly how much the new owner of the Metaflower Super Mega Yacht recently paid for the opportunity to own a luxury NFT designed for The Sandbox, “a virtual world where players can build, own, and monetize their gaming experiences.”
The virtual ship was designed by Republic Realm, a metaverse and NFT innovation and investment platform, as part of its Fantasy Collection. According to Business Insider, it’s the most expensive non-fungible token ever sold in The Sandbox.
Earlier this month, someone plunked down nearly $2.5 million for a digital plot of land on Decentraland, another metaverse.
Making sense of the whole situation is a challenge in itself, and essentially revolves around how you define the metaverse.
It’s crazy to spend so much money on a yacht you’ll never be able to use. If you squint hard enough, there are some benefits to it. The yacht has no upkeep or maintenance fees because everything is digital. Plus, if you have enough money to spend more than half a million on an NFT, it’s definitely a trivial sum to you.