8 September 2021, Somewhere in the Metaverse - UplandDood (@Just1Dood)

Written on 2 September 2021

A recent chat with some friends at noise.cash has gotten me curious about a couple of NFTs I'd bought earlier this year and forgotten about. It was actually back in March that I'd bought these NFTs.

What are NFTs?

I'll not go into details about what NFTs are but here's a brief definition from Investopedia :

Non-fungible tokens or NFTs are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other.

If that still sounds confusing, a simpler definition from cnn.com may clear that up:

NFTs transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that are easy to trade on the blockchain.

Note: You may click Investopedia and the cnn.com links to find out more.

How I found out about these NFTs

I'd come across this earlier this March, though I can't remember exactly the source of the information. It was a promotional sale of Splinterlands Land Claim Sales with a 20% discount.

In fact, when it was announced back then that this promotional Land Sale was happening over at AtomicHub, I'd written about it to inform my readers. Back then, I was more active over at Publish0x. It was at that platform that I'd published "Ending Soon! Splinterlands Discounted Land Sale at AtomicHub"

I'd just looked at the statistics on that article. It had 290 views in total. And I thought to myself, if half of those who read the article had acted on the information presented, they would have made a whopping 2700% today. Yes, you read right. It's an increase of 2700%!

Fortunately for me, before I had posted the article, I had enough to participate in these Land Claims. I was also grateful that it was offered through the WAX chain. Otherwise, I'd have missed this opportunity. If the sales were on the HIVE chain as they did for the first two sales, I probably wouldn't have gone through the trouble to get any.

The normal price for a Plot of Land was $20 but during this 24-hour promotional sale, it was at $16 per plot. I was sane enough to get 2 plots. If I was insane, I would have gotten one Tract of Land instead. One Tract consists of 100 plots of land and was offered for sale at $1360 (which works out to $13.60 per plot!). I dared not even think about spending that amount. Thus, I was certified sane and have gotten only 2 plots instead.

Let's do some math (I love this kind of math 😁):

Currently, the lowest secondary market value for one plot of land is $450! That works out to a little over 2700% increase. Because I was sane, that two plots of land have given me an unrealized gain of $868! That's in 6 months' time!

If I was insane, I would now have an unrealized gain of $43,640! Just thinking about this drives me nuts!

Here's something totally out of this world. For the Whale, if he or she had bought the largest available package - i.e. the Region Land Claim that consists of 1,000 land plots for cool $12,000! No chump change there. He or she, if managed to sell all now would have made off with a cooler $438,000!🚀🚀🚀🚀🚀

And you know what's crazier? These prices may increase further depending on how they play into the game.

There's a Land Rush

Is it any surprise then that besides the sold-out lands on Alien Worlds, the Sandbox Game and the Upland Game virtual land and property sales are so popular? When lands are offered up for sale in these games, you can literally see a mad rush to grab lands. It is literally a land grab!

If you have not seen one, you should check out as an observer in any of these land sales. See those virtual dots disappear in mere seconds.

The Upland Game in-game USD transacted values have surpassed $1,000,000 recently! I'd highlighted in this UplandDood Update as the game was approaching the milestone.

And the average Sandbox lands that were sold for around $50 in their earlier discounted rounds of Land Sales a year ago are now being sold at no less than 0.2 ETH for each plot at Opensea. I'd just checked and the latest sale was at 0.419 ETH! The current ETH price is slightly above $3700.

To be Sane or Not to be?

This is a tough question to answer, isn't it? Remember my article on The Incomplete Idiot's Guide to "This is Not Financial Advice"? We all know too clearly that a fool and his money are soon parted. But sometimes, a fool stumbles on his fortune!

This is the kind of crazy thing that can only happen in the Blockchain world of Cryptocurrencies and Non-Fungible Tokens! It is also in my opinion why many governments are trying to control it. It gives power to the individuals. Governments prefer dumbed-down citizens. But that's another article that someone can write about. Not my forte though I can see what's going on.

This Is Not Financial Advice

Yes, it's that disclaimer again. These types of games and purchases are highly risky. Always approach with caution.

This is not financial advice. Do your own research.

Sources:

Lead image Own Design using Canva.com

Other images - respective sites

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