On the Internet, no one knows that you’re a dog. And in the metaverse, you can show off your riches by buying non-fungible tokens. Gaming becomes a more and more important sector in the crypto industry for several reasons. Players identify themselves with content and like to own it. Tokenization makes this possible and last week another pricy item was sold.
A real Yacht is more expensive
Most people on earth cannot afford a yacht. And those who can are not so much concerned with the price for the boat, but the yearly maintenance costs. You can always sell the boat, but the money to maintain it is definitely gone.
While a real yacht will cost around 10 % of its price per year for maintenance, a yacht in the metaverse is practical a steal. And that’s probably what the new owner of the “The Metaflower Super Mega Yacht” thought when he gladly paid 150 ETH on Opensea 9 days ago.
The ship comes with a DJ booth, a helicopter landing pad, a hot tub, and a few more amenities that the new owner can enjoy. Virtually, of course.
Welcome to the Sandbox
To get on board the ship the new owner has to enter the Sandbox. The NFT will allow him in-game access to the boat which is designed to be the crown jewel of the Sandbox. The project was hyped only recently when Adidas announced that they are going to become a part of the Metaverse.
With the "Metaflower Super Mega Yacht", the most expensive item on the Sandbox has been sold. Critics have pointed out, that it is crazy to buy things that aren’t even real and pay millions of dollars to become part of a virtual world that has unlike real life no intrinsic value. Still, gamers love their content. Starting with skins and building and owning virtual homes, players feel that these items belong to them.
NFTs are a way to certify that ownership and might grant certain rights in the future. Applications like the Sandbox and Decentraland have a use case that follows a rationale that creates a conflict with the everyday idea of ownership that many people hold as their view.
If a yacht is a set of data that can be copied anytime, how do you become the owner? While critics have good arguments against NFTs they have no real answer to this question. It seems that NFTs are the best answer to that question so far.