NFT Game From 'Fable' Creator Just Sold A Digital Land Plot For $900K

RJ Pierce, Tech Times 15 December 2021, 11:12 pm

The NFT game called "Legacy," which is the next project of "Fable" creator Peter Molyneux, just sold a digital plot of land for an insane amount of money.

According to a report by IGN, the in-game land plot (which is actually required for players to get started with the game itself) sold for a whopping $900,000. That's the price of the most expensive plot in "Legacy" called the London plot.

Scheduled to release next year, "Legacy" is essentially a new NFT game using blockchain technology that allows players to build digital business empires. Once they buy their plot of land to start, players can start their own so-called "blockchain business association."

Eventually, the game world opens up and lets players build digital products, services, and buildings to sell to other players. If one of your lifelong dreams is to become a business tycoon, then maybe "Legacy" is the game for you.

However, the $900K sale is just one of many plots of land in Molyneux's game that's already fetched for a mint.

RockPaperShotgun reported on the sales figures for the upcoming NFT game so far. It is revealed that since the plots of land have been in pre-selling, the game has already sold an insane $56 million in non-fungible token assets.

(Photo : Getty Images )

The value comes from the total equivalent of 14,000 Ethereum that was traded during the land pre-sale.

For the uninitiated, "Legacy" is actually on the Ethereum blockchain, though the game will be using its own cryptocurrency called LegacyCoin. But as per the original RockPaperShotgun report, profiting from the new coin heavily depends on the game's launch being on-time, as well as on people who want to pay for it.

Molyneux's game has no exact release date aside from the year, which is 2022. It is a project of his new studio 22cans, which he established in 2012. Before "Legacy," 22cans was known for a game called "Curiosity," which had players clicking on a giant cube millions of times just to find out what's inside, writes IGN.

The Upcoming NFT Game Invasion: What Does The Rest Of The Industry Think?

The concept of an extremely valuable non-fungible token is still an alien concept to some. But others are going as far as to call it out, with Axios Gaming's Stephen Totilo not being a fan.

Here's one of his recent tweets about Molyneux's game:

Those Ghost Recon NFT gun skins are now on crypto marketplaces. Of the 2,000 skins issued, I found 19 on sale. Asking prices ranged from $634 to $423,000.

The highest offer anyone is making on the market I checked?

$21

The sector is full of speculatorshttps://t.co/cOuyVdn2Fv
— Stephen Totilo (@stephentotilo) December 15, 2021

As you can see, Totilo believes that the NFT gaming business is "full of speculators," further clarifying in an Axios article that it is "awfully hard" to tell what a non-fungible token in gaming really is worth.

He used Ubisoft's NFT skins for "Ghost Recon" as an example. While these in-game cosmetics now have asking prices ranging as high as $400,000 on unnamed cryptocurrency marketplaces, Totilo claims that the highest offer he saw when he checked was a measly $21.

Nevertheless, NFTs are starting to creep into the deepest parts of the gaming industry, and even big names are wanting their own slice of the pie.

This article is owned by Tech Times

Written by RJ Pierce