According to the latest news, well-known singer Lin Junjie announced on social platforms that he has held the virtual plot of Arcade Land.
It seems that neither Singapore nor “Jiangnan” can satisfy JJ’s “possession”. You know, this is not the first time that Lin Junjie has acquired virtual land. As early as last year, he bought three pieces of land for nearly 800,000 yuan.
Not only that, but judging from JJ Lin’s Opensea account information, he is also the owner of many NFTs, such as Fat Ape, Snadbox plot, Space Kubz, Dark Horizon, AK Cyber Dolphin Star, Graycraft, etc.
So, what is the “sacred” Arcade Land held by JJ Lin this time?
What is Arcade Land?
Arcade Land is a new Metaverse project that mainly operates virtual land, and its token is ApeCoin . Arcade Land’s official website has announced a number of strategic partners, including BYAC, Mekaverse, mfer, PhantaBear, etc.
On April 1st, Arcade Land officially launched the whitelist sale . The price of Mint starts at 0.25ETH and is divided into four types of land. Element market data shows that Arcade Land’s turnover exceeded 1,200 ETH 1 hour after the launch, with 2,700 holders and a floor price of 0.45 ETH.
On April 2, Arcade Land went on sale . According to NFTGo.io data, Arcade Land’s 24-hour transaction volume exceeded $12.24 million, ranking third in NFT transaction volume, with a floor price of 0.685 ETH.
It seems that Lin Junjie acted quite fast this time, and decided to invest in this new project on the seventh day of the sale.
Learn about virtual land
Maybe some people don’t know much about virtual land, let’s briefly introduce this new “investment darling”.
At present, a large part of the application of blockchain technology is based on Ethereum. For example, the popular “Cryptocat” in the past few years is a scenario-based application based on Ethereum. The virtual land purchased by Lin Junjie is similar to this, but it is embodied as “land”.
Why is virtual land valuable? Because virtual land is based on the principle of decentralization, assets such as land are stored on the blockchain, the ownership belongs to the user, and the “land area” is subject to negotiation by all users. Generally speaking, the number of plots is limited. The more people enter the investment, the price will inevitably continue to increase.
In addition to the land itself, the influence of star players, derived advertisements, and event revenue are all part of the value. Moreover, users can transfer and sell assets such as land in the form of NFT to obtain actual income.
Currently, the high-value virtual plots in the Metaverse project are mostly used for information display, retail, social networking and other commercial purposes.
Surely you can make money?
Investing in virtual land certainly has the opportunity to make money, but there is also the possibility of losing money. In fact, the risk of such investment targets is not small, and some wild projects are even more risky.
Take Li Junjie’s purchase of three pieces of virtual land on the Decentraland platform in 2021. He spent about RMB 783,000 in purchasing these pieces of land. In less than a month, the total price dropped by nearly half, and the total loss reached 30%. million or so.
It can be seen that the investment risk of virtual land is still not small.
When these virtual real estate projects are developing well, investors keep pouring in, and the value of virtual land will naturally rise. Once the reverse trend occurs, perhaps the project encounters unexpected risks and is likely to be worthless.
Of course, some virtual real estate projects still performed well. For example, on the same day that Lin Junjie purchased three pieces of virtual land in Decentraland, the last piece of land in DCL sold for a sky-high price of $2.43 million; a few days later, a piece of virtual land on TheSandbox It set a new record with $4.3 million.
In general, risk and reward are always proportional.
Can ordinary people play this?
In addition to celebrities such as JJ Lin, business giants such as Microsoft and Disney have also entered the Metaverse one after another, and have come up with the idea of virtual real estate. More and more investment companies have begun to snap up virtual land in Metaverse projects such as Sandbox.
In this case, is it suitable for ordinary people to invest in this popular project? To be honest, not very recommended.
For companies and celebrities that are “good money”, even if there is a high investment risk in virtual land, there is a high probability that they will be able to make money. Even if they lose money, it will not hurt.
But ordinary people have no such confidence. If they want to make money by “speculating land” in the virtual world, they almost have to invest their entire net worth, or even more than that. Once a loss occurs, it will definitely be unbearable.
Therefore, instead of taking huge risks to do “leek”, it is better to do some Metaverse projects that are more secure and less risky.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/lin-junjie-buys-virtual-land-again-can-ordinary-people-play/
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