- In one of the meta-universes – Sandbox – a virtual NFT asset was sold for a record amount for the site of 149 Ethers (a popular cryptocurrency ) or $ 650,000.
- It turned out to be a yacht called Metaflower Super Mega Yacht.
- The virtual object, outwardly reminiscent of a cardboard model that came out from under the hands of a hardworking schoolboy, is equipped with a DJ booth, two helipads, a jacuzzi and other amenities.
In one of the meta-universes – Sandbox – a virtual NFT asset was sold for a record amount for the site of 149 Ethers (a popular cryptocurrency ) or $ 650,000. It turned out to be a yacht called Metaflower Super Mega Yacht.
The virtual object, outwardly reminiscent of a cardboard model that came out from under the hands of a hardworking schoolboy, is equipped with a DJ booth, two helipads, a jacuzzi and other amenities. In addition, its owner gains access to The Fantasy Marina.
More from Megayatch NFT
The buyer is unlikely to be able to make money on the resale of a yacht, at least in the foreseeable future. Judging by the data on the object’s page , it has received only two applications so far. Potential buyers offer from 0.6 to 0.8 Ether – that is, 2800 – 3800 dollars.
Sandbox is a virtual world in which members can create, buy and monetize various game content or virtual experiences. The object of sale and purchase on the built-in marketplace is NFT (non-fungible token) – non-fungible tokens.
These are digital assets akin to cryptocurrencies, which represent a property right recorded in a distributed ledger (blockchain), a kind of “digital passport” of an object. Unlike identical (fungible) bitcoins or “ethers”, NFTs have unique identification codes and metadata and cannot be replicated. They assign unique virtual items (weapons or clothing of a character in a video game), digital artwork, tangible collectibles, or even real estate to the owner.
Previously, not only works of famous digital artists were sold as NFTs, but also copies of masterpieces stored in the Hermitage , as well as several videos from TikTok, which the platform proposed to be considered “culturally significant” .
What is an NFT?
Non-fungible tokens or NFTs are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.
The distinct construction of each NFT has the potential for several use cases. For example, they are an ideal vehicle to digitally represent physical assets like real estate and artwork. Because they are based on blockchains, NFTs can also be used to remove intermediaries and connect artists with audiences or for identity management. NFTs can remove intermediaries, simplify transactions, and create new markets.
Like physical money, cryptocurrencies are fungible i.e., they can be traded or exchanged, one for another. For example, one Bitcoin is always equal in value to another Bitcoin. Similarly, a single unit of Ether is always equal to another unit. This fungibility characteristic makes cryptocurrencies suitable for use as a secure medium of transaction in the digital economy.
NFTs shift the crypto paradigm by making each token unique and irreplaceable, thereby making it impossible for one non-fungible token to be equal to another. They are digital representations of assets and have been likened to digital passports because each token contains a unique, non-transferable identity to distinguish it from other tokens. They are also extensible, meaning you can combine one NFT with another to “breed” a third, unique NFT.