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
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.