Singapore singer, songwriter, record producer. Actor JJ Lin purchased three virtual lands in Decentraland, a cryptocurrency market. Virtual real estate can be bought and sold here, and users can log in and wander around in the “metaverse”.
The virtual real estate bought by JJ Lin
He currently owns three virtual plots of Decentraland: Prime Gallery 1, Primary Gallery 2, and the plot closest to GENESIS PLAZA. These three plots were purchased on the OpenSea NFT market. The price of each plot is 6000 MANA (Decentraland’s cryptocurrency). Or based on the current price (approximately US$5/MANA), each plot is approximately US$30,000 (S$41,000).
According to OpenSea transaction records. Two of the three plots (Prime Galleries 1 and 2) were purchased by an OpenSea account owner named Dan309 about a month ago. Then transferred to Lin Junjie’s OpenSea account five days ago-the user name is Meta_Enigma. For the nearest Genesis Plaza, records show that Meta_Enigma was purchased directly from user DCF753.
According to foreign media reports. JJ Lin posted his fancy Decentraland virtual world on Twitter on November 23. And called on netizens to “are there anyone with you?”. Cause hotter interactions.
Since each pixel on the decentralized land plan is 52.5 square feet. JJ Lin paid approximately S$780.95 per square foot of real estate on decentralized land. This is almost the psf price of a 4-bedroom flat in Geylang Serai or a 4-bed corner terrace in Loyang Villas.
Although most users buy NFTs and virtual land for speculative reasons. But some users do this because they are associated with these virtual environments. Some people buy them to build their own virtual houses and establish their own brand. Or show your own non-functional game collection for users to visit and appreciate. One reason for this resurgence of interest or hype is that Facebook has recently been renamed Meta. And plans to develop its own version of the metaverse.
The purchased virtual land can be transformed into what you like
One of the three virtual plots recently purchased by JJ Lin. This is the nearest Genesis Square (X: 29, Y: -5). He paid 6000 MANA (or approximately S$41,000) for this. As the owner, he can renovate the land to whatever he likes. Or hold it for resale in a market like OpenSea.
For most people who have experience in the real estate industry. The price that JJ Lin paid for these “non-existent” land may discourage us. However, he is no stranger to buying virtual assets (nft). These virtual assets include digital 3D paintings, emoticons or virtual images on the blockchain.
JJ Lin buys NFT
November 8. JJ Lin bought a rare CryptoPunk NFT (No. 8601) with 125 Ethereum (ETH for short) (valued at US$555,000. At the current price, it is SGD 761,000).
Some nfts are highly valued (some say they are overvalued) for two reasons. They are immutable on the blockchain. They cannot be changed or removed) and rare (eg. There are only 10,000 cryptopunks in circulation now).
Of course, in the real world, Lin Junjie is also a shrewd real estate buyer. In August 2021, he bought two luxury high-rise apartments in Taipei, Taiwan for US$18.9 million. He already owns a 2,846 square foot house in the area. Own a 2134 square foot house in Daan District (valued at NT$63 million or S$3.1 million).