Crypto Gamers Spent $1 Million Last Week to Purchase Virtual Land

Michael LaVere
  • Crypto gamers spent $1 million over the last week to invest in virtual land.
  • Blockchain-based game Decentraland generated more than $600,000 from users purchasing digital real estate. 

Crypto gamers spent $1 million over the last week to invest in virtual properties and digital real estate.

According to a medium post by blockchain supporter Robert Hoogendoorn, gamers invested more than $1 million this week to purchase virtual spaces across three crypto-based games: Decentraland, Cryptovoxels and The Sandbox. 

Decentraland, the largest of the three platforms in terms of trading volume, generated more than $600,000 from gamers rushing to purchase virtual real estate in the blockchain-based digital world ahead of the game’s official launch on Feb. 20. Players are able to purchase their virtual names secured through Ethereum Name Service Domains in addition to buying digital clothing and accessories. 

The Sandbox also witnessed an influx of crypto investment, generating more than 6,000 sales and $168,000 from gamers purchasing 7% fo the game’s total landspace. In addition, users spent $204,000 in the purchase of digital items on gaming platform Cryptovoxels.

According to Hoogendoorn, the purchase of digital land provides users with a variety of benefits, 

Virtual land in these digital world can be owned by players themselves. They are free to build whatever they want, and to monetize whatever they want. As a result this free digital market will attract both hobbyists and business opportunists.

Hoogendoorn said the rise of crypto-based gaming has provided a “new meaning” for user-generated content, with virtual ownership drastically changing the traditional consumer role. 

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