Since about five months of its launch, the OVRLand auction has increasingly and continuously attracted interest from investors who truly see augmented reality as the next layer of life. It may come as a surprise that OVRLands, a virtual world with the sophistication of AR that merges both the physical and virtual world, creating a dimension where everything is possible started selling at an average price of $10 in OVR. You can say cheap right? Well, that isn’t far from it. The exciting news that’s about to change this narrative is the ongoing auction of sixty OVRLands at the base of the Eiffel Tower.
How it started
OVRLands which are subdivided into units called hexagons equates to 1.6 trillion in total as derived from the division of the earth. This simply means there are 1.6 trillion of these OVRLands available up for grabs and with these much in circulation, many had argued that “OVRLands” may not be any worth more than its average price of $10 in OVR in the future. Fast forward to now, a handful of auctions with more to come have proven otherwise. And fortunately for us at OVR, the year 2021 has been a golden year for NFTs with metaverse projects in which OVR tops the charts receiving massive attention from investors from around the globe.
2021; The Year of NFTs
The “rush” to own a virtual land property by investors has been attributed to the steady increase in the number of auctioned lands in the past months to over 236,000 OVRLand NFTs currently. And with more and more interest in owning virtual lands, a price algorithm for OVRLands in certain locations considered as “hot spots” recently kicked in just after 100,000 OVRLand auctions were recorded. This new price algorithm brought prices of OVRLands in those locations to as much as 50 OVR per OVRLand and even higher. Also, we previously recorded a groundbreaking sale for land at Granada: the Palace of Charles V which sold for 6400 OVR after a bidding war.
Setting a standard for the sale of virtual lands
And now, the rave of the moment which is the auction for the most-visited monument in the world- the Eiffel Tower, has started. This grand auction of Sixty (60) OVRLands located in the heart of the Eiffel Tower is being auctioned as a bundle and will last until 30th April 2021, 23:59 (CEST) on OpenSea. The amazing thing about this particular auction is that it is set to break records which we are seeing already as bids for the Eiffel Tower currently stand at 7 ETH with the auction still open! The Eiffel Tower auction will set a standard for virtual land NFTs and possibly pave the way for future groundbreaking sales. More than breathtaking isn’t it?
Recently, we launched OVR Builder- the Software Development Kit (SDK) for adding contents to OVRLand. Currently in beta testing and will allow official publishing on OVRLands in a couple of days