The price of a piece of virtual land NFT recently sold by the well-known game Decentraland on the open source public chain Ethereum broke the historical record. The price of the NFT exceeded US$913,000 at the time of transaction, equivalent to nearly 6 million yuan in RMB market value.

The land is located in an urban area called Dragon Kingdom in the Decentraland game. Republic Realm, a subsidiary of the online investment platform Republic, has announced that it is the buyer of the land and posted a message on Twitter: "We can't wait to announce the purchase of this land." Earth's plans. Our resolve to build and develop the Metaverse is stronger than ever."

The virtual land NFT is priced at 1,295,000 MANA in the Decentraland game. According to NonFungible, it's the most expensive virtual land ever sold. This record broke the highest price of the blockchain protocol Boson. In the first half of this month, Boson announced that it had purchased a virtual real estate in the Vegas area of ​​Decentraland at a market price of about 704,000 US dollars, and planned to build a virtual shopping center to promote its Decentralized infrastructure products.

Decentraland is a metaverse 3D game based on Ethereum, in which players can freely explore and interact with other players to play games, a bit like a blockchain hybrid version of "Second Life" and the sandbox game "My World". There is real item ownership as endorsement, and the economic mechanism is driven by players.

Decentraland is not the only blockchain game selling digital land in the form of NFTs. There are also popular online games such as Sandbox and Axie Infinity on Ethereum, and the virtual real estate sold in these games has been sold for more than one million US dollars.

NFT can be regarded as the ownership contract of the digital project, and after being marked on the blockchain, it becomes a unique identity mark. NFTs come in all forms, and everything from still images to video clips and even tweets can be NFTized. However, NFT is particularly useful in the world of encrypted video games. Game props, limited characters, cards and customizable land can all take the form of NFT.

In addition to Decentraland, the NFT game NBA Top Shot developed by Dapper Labs also triggered a rush to buy. However, according to the latest data from the NFT collectibles data statistics website Crypto Slam, the sales of NBA Top Shot dropped from 200 million US dollars in March to 5 million in May. The average price of each NFT dropped from $157 in March to $31 in May, down 80%.

According to a report by the Financial Associated Press on June 18, Coinbase co-founder Fred Ehrsam (Fred Ehrsam) said in an interview with the media recently that he believes that NFT is at the "frontier" of the blockchain world, but "90 % of NFTs will eventually become worthless". In order for NFT to trigger a new wave of bull market in the DeFi July wave, in addition to games such as Decentraland or Top Shot, it may also need the endorsement of more other industry applications.