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.”
Main image credit: The Sandbox