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Snoop Dogg’s Metaverse Neighbor Paid $450,000 To Be His Neighbor

snoop-dogg

Snoop Dogg, a rapper, is now a citizen of The Sandbox metaverse. And someone really wants to live next door to you.

Snoop Dogg is rebuilding his California mansion in The Sandbox, an Ethereum-based decentralised metaverse game that recently minted its first wave of virtual lots in the “Snoopverse.” A land next to Snoop’s virtual property sold today for close to 71,000 SAND, The Sandbox’s native coin, which is almost $450,000.

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In The Sandbox, virtual land is sold as NFTs, which are one-of-a-kind tokens that confer ownership rights over digital items—in this case, plots of digital real estate. Sandbox LAND NFTs can be bought and sold on platforms like OpenSea just like any other NFT.

Snoop Dogg responded to the news that property adjacent to his sold for $450,000 by tweeting, “Won’t you be my neighbour?”

According to Mathieu Nouzareth, a board member of The Sandbox, when the company approached Snoop about cooperating, “he was immediately highly interested in The Sandbox.”

“We’re going to do multiple things with him,” said Nouzareth. “The next campaign is going to be about selling LAND with Snoop Dogg, and then we have this big concert. We sold 1000 tickets, and it’s coming early next year.”

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The Snoopverse LAND NFT sale includes three “estates” in all, including the plot that sold at auction for roughly $500,000. The other two estates sold for around 55,000 SAND and 67,000 SAND, or around $338,000 and $410,000, respectively.

At a considerably lesser price point, 122 ordinary LAND NFTs are also available for purchase in the vicinity of Snoop Dogg’s virtual estate for 1,011 SAND. There are also 67 premium LAND NFTs that cost 4,683 SAND and come with three more NFTs as a bonus. Private party passes, which enable holders entrance to Snoop’s private parties in The Sandbox metaverse, may be included in the bonus NFTs.

The buyer of one of the “estates’ ‘ in the Snoopverse who spent $450K is an NFT collector known as P-Ape. According to their OpenSea account, they also have substantial holdings of Bored Ape #6445, which is presently listed for 150 Ethereum, and Mutant Ape #11089, which is currently listed for 80 Ethereum.

This enormous Sandbox LAND auction sale price shows that some people are ready to pay the average price of a multi-bedroom house in Phoenix, Arizona, for a virtual 3×3 plot of land in the Snoopverse.

For better or worse, a massive amount of money is streaming into the metaverse, with over $100 million invested in virtual real estate in the last week alone. A stunning $86.56 million of that amount went to The Sandbox alone, which is also partnering with music producer deadmau5 and athletic brand Adidas, in addition to Snoop Dogg.

But this isn’t Snoop’s first encounter with NFTs. Over the past year, he has been collecting and making art on the blockchain, teaming with artist Coldie to release an NFT collection on SuperRare and another with the artist behind the Nyan Cat meme. Perhaps most interestingly, Snoop stated in September that he is the well-known NFT whale collector Cozomo Medici—though Snoop has remained tight-lipped about it ever since.