Metaverse land grab: Andie Sparkle Gang buys virtual land next to Snoop Dogg’s land in The Sandbox for $458,038, higher than Chicago homes median sales price

  • Virtual real estate is a fascinating development for the metaverse. So is Snoop Dogg’s investments in NFTs and virtual land in The Sandbox. Snoop Dogg is all in on the metaverse! He’s created the Snoopverse in The Sandbox. And he’s selling 122 regular lands, 67 premium lands and three estates.
  • People are buying the virtual land to be neighbors with Snoop Dogg. Andie Sparkle Gang just spent $458,038 for plot of virtual land next to Snoop Dogg. Yes, that’s more than the median sales price in Chicago ($390,000)!
  • Two others bought Snoop Dogg’s virtual land. The total from all 3 land sales was $1.23M. [Yahoo!]
  • Although buying virtual real estate may seem puzzling (if not a waste of money) to many people, proponents of Web3 believe that people will increasingly engage the Internet in virtual worlds (often called the immersive).
  • So, instead of spending time scrolling through TikTok and Instagram, imagine that you are (virtually) a part of what you see on your screen. You can buy the house next to Snoop Dogg and hang out with him, for example. You can attend a Justin Bieber concert in the metaverse, as already occurred recently.
  • During the pandemic, everyone quickly–practically overnight–went “remote” and entered Zoom. The switch from social media to the metaverse won’t be as quick. But it will be more mind-blowing.