The greatest land grab since the internet is underway

New York-based property developer Republic Realm forked out $4.3 million for a plot of land.

This undeveloped lot sold for almost 4X more than the average NYC apartment.

But the land wasn’t in sought-after cities like San Francisco, Manhattan, or Boston. The record purchase wasn’t in the Cayman Islands either.

In fact, it wasn’t even in the “physical world.”

Republic Realm paid $4.3 million for a plot of land inside The Sandbox, a video game.

Virtual land is booming…

In the past week, folks spent $18 million on virtual land in The Sandbox.

Republic’s CEO Janine Yorio said: “Buying land today in virtual worlds may end up feeling a lot like buying land in Manhattan in the 1750s. There is massive growth ahead, and now is the time to get in on the ground floor.”

… visit Risk Hedge to read full story

Main image credit: The Sandbox

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