Metaverse Enthusiast Paid $450,000 To Be Snoop Dogg's Virtual Neighbor

Hip hop icon Snoop Dogg is recreating his California mansion inside Ethereum-based ETH/USD metaverse platform Sandbox SAND/USD, which caused the plot next to his to be sold today for nearly 71,000 SAND — about $450,000.

What Happened: Snoop Dogg said in a Friday tweet that the purchase and its price by asking "won't you be my neighbor?"

Land plots in The Sandbox are represented by and sold as non-fungible tokens that can be sold on any NFT marketplace such as OpenSea, with each having an independent value based on location. This means that one land plot can cost a lot more than another one if — for instance — owning it would make youSnoop Dogg's virtual neighbor.

See Also: IS THE SANDBOX A GOOD INVESTMENT?

Snoop Dogg is much more involved in the Sandbox ecosystem than that. Mathieu Nouzareth, board member of The Sandbox, told Decrypt during a recent interview that "the next campaign is going to be around selling LAND with Snoop Dogg, and then we have this big concert. We sold 1000 tickets, and it's coming early next year."

The Snoopverse sale of Sandbox land plots near Snoop Dogg's virtual estate with other two selling for about 55,000 SAND ($338,000) and 67,000 Sand ($410,000.)

SAND Price Action: As of press time, Sandbox's token is trading at about $6 after seeing its value lose about 6% over the last 24 hours.

Photo: Phil King via Flickr Creative Commons

Posted In: metaverseSnoop DoggCryptocurrencyMarketsMedia

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