NFT game creator flips Axie Infinity virtual land for 9,200% gain in one year

NFT game creator flips Axie Infinity virtual land for 9,200% gain in one year


Kieran Warwick, the co-founder of forthcoming NFT-powered gaming metaverse Illuvium, has revealed he made a gain of more than 9,000% from flipping a virtual plot of land purchased from the Axie Infinity metaverse.

Warwick, the brother of Synthetix founder Kain, recounts purchasing the plots during mid-2020, noting there “weren’t too many use cases” for digital land at the time, with in-metaverse advertising and  mining having yet to become common as utilities for virtual property.

He purchased the plot for $300, and announced the sale a year later for $28,000 on July 13.

I just sold a plot of land for 28K that I bought for $300.

Trending: Dr. Stella Immanuel Sues CNN and Anderson Cooper For $100 MILLION!

You think this isn’t going to be a revolution?

What happens when your kid asks for your CC to play a game and comes back with bundles of cash?

— Kieran (@KieranWarwick) July 12, 2021

Despite the lack of apparent utility, Warwick invested “quite a bit into” Axie Infinity based on “the promise for them to build out

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