The secondary land offering for virtual land inside Somnium Space will take place on Opensea starting from November 1st until December 18th. Investors, creatives and players will be able to buy virtual land using three different cryptocurrencies: ETH, DAI and Somnium Space’s very own CUBES. Somnium Space announced these dates in a blog post.
The virtual land parcels will be sold over a period of seven weeks. The locations and sizes of the parcels have not been revealed yet. This is important, because land that’s located next to virtual water or on a road, tends to be a bit more valuable.
In addition to the sale, the development team announced a reward program for people who spend a lot of money. Users who spend more than 100 ETH, which currently equals 36.7 thousand dollars, will receive a gaming laptop, VR headset, an unique art piece, digital currencies and a shirt. Spend 25 ETH ($9200) and you’ll get a VR headset, currencies and a shirt. Finally 10 ETH ($3700) or more will get you a shirt and some currencies.
Somnium Space is a virtual world in which users can own virtual land. On this land they can build anything, from interactive experiences to art galleries. So far over 50 thousand people have downloaded the Somnium Space client from the official website or through Steam.
At the moment the average land parcel costs 4.27 ETH, which is approximately 1500 dollars. The cheapest land parcel inside Somnium Space is available for 1.225 ETH, which is approximately 450 dollars.
What is Somnium Space?
Somnium Space is a virtual world in which landowners can build whatever they want to. The program registers landownership on the Ethereum blockchain. In addition all players can visit these creations and interact with each other. The developers have created Somnium Space with VR headsets in mind, even though players can also access to world through their desktop or laptop.
Value of land in Somnium Space has been increasing incredibly over the year. We can also see this increased demand for virtual land in other virtual worlds and even in blockchain-powered video games. League of Kingdoms, Brave Frontier Heroes and Axie Infinity are just a few of the examples that offer digital land to their players. Recently The Sandbox did a land pre-sale where gamers and creatives could buy virtual land for 40 dollars. Now the minimum price for land inside The Sandbox is 0.45 ETH, which is roughly 165 dollars.