It has already been 4 days since buying and selling Decentraland estates became a possibility on the marketplace, and sales have gotten off to a promising start.
Since Decentraland announced the first Estate listed for sale, 15 Estates have been sold for a total of 2,093,384 MANA, or $147,667. It is clear that new this feature has been a hit with investors straight from the get go, and all early signs show this trend is set to continue.
LAND is proving to be a safe haven for smart crypto investors, who are coming to Decentraland in their droves in an attempt to preserve and protect their crypto portfolios from the swings and volatility in cryptocurrency markets.
Amidst these challenging times for crypto investors and traders, it is encouraging to see that LAND sales have not only held their value, but also the average LAND value has continued to rise.
The marketplace has seen an explosion of new Estates being formed. They come in all shapes and sizes, and vary drastically in price, and potential.
Currently, the cheapest Estate listed for sale in the marketplace is the BeachFront Hotel, which is 2 parcels in size and listed at 31,000 MANA ($2180).
The Most Expensive
In contrast the biggest and most expensive Estate (excluding unrealistic outliers) listed for sale is Yuut Park West, which comprises of 161 LAND, and is for sale at a cool 20,000,000 MANA, or $1.41M. As more large scale investors continue to find themselves diversifying into Decentraland LAND, we could very well see our first “Decentraland $ Millionaire” should this Estate find a buyer.
The possibility of buying LANDs adjacent to plazas, districts and roads is diminishing rapidly as their scarcity increases due to “buy and HODLers”. As a result, we are seeing their values increase drastically as speculators hedge their bets on just “how” valuable it will or won’t be to get that extra visibility from passers by, when the Metaverse launches.
- the cheapest roadside Estate is listed at 43,885 MANA
- the cheapest district adjacent Estate is listed at 80,000 MANA
- the cheapest plaza adjacent Estate is listed at 1,999,999 MANA
It will be interesting to see how the market for Decentraland Estates continues to evolve over the coming months. As with all markets, when a new innovation appears, or a significant change happens to improve an already successful model, it opens doors to more opportunities. The question is, can you spot them? and will you act on them?
Thanks to my-dcl.com for providing the data for this article.