Somnium Space sold over 278 thousand dollars worth of virtual land in the first week of its second land offering. Every day the company auctions land and world servers, which they named Somnium Space Worlds. Nine of the game worlds within the virtual world of Somnium Space sold for a total of 144 thousand dollars according to data from Somnium Times.
The second land offering, also called SLO, is a seven week event during which Somnium Space sells all kinds of virtual land. Obviously the size of virtual land influences the price. There are small, medium and extra large land parcels. However, the location is also important. Parcels next to a main road tend to be more valuable, and locations next to the lake are very wanted too.
The game worlds are a new aspect of Somnium Space. People who already own virtual land within Somnium Space can place a portal on their land. This portal opens the door to a Somnium Space World, which can be used for unique experiences like games, interactive art installations or anything else the owner can imagine. Judging by the average selling price of 16 thousand dollars, these game worlds are hot commodities.
Somnium Space sales during week 2
The second week for the Somnium Space land offering is now live on Opensea. During this week, that ends on Friday, they will sell three exclusive estates, 50 out of the total of 350 land parcels and nine Somnium Space Worlds. These auctions use ETH, DAI and Somnium’s in-game currency CUBES. Some of the auctions end today, others in a few days.
For example, there’s an XL land parcel that costs 5000 CUBES. It’s pretty close to the water. This could proof to be a good investment. Another solid investment seems to be an estate that consists out of four XL parcels. It has a view on the mountain, but is generally a bit secluded. Minimum bid on that one is 6000 dollars in DAI. A medium parcels is now priced 2.5 ETH, while a small one is listed for less than one ETH.
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. This week The Sandbox will also do a land pre-sale where gamers and creatives can buy virtual land for 40 dollars. At the moment the minimum price for land inside The Sandbox is 0.45 ETH, which is roughly 200 dollars.
Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a communication consultant for blockchain start-ups and writes not only for Play to Earn, but also other dapp websites and tech magazines.