Secondary Land Offering: Wrap-Up Week #2

The second week of the Somnium Space Secondary Land Offering maintained the same pace and the same intense bidding as the first week, with total sales slightly above week 1. Not surprisingly, the brand new Somnium World assets – representing a revolutionary new feature that will make it possible for users to plug in custom developed VR worlds – were again the big attraction.

Want to know more about the Secondary Land Offering and what is on auction? Check out WEEK BY WEEK: Secondary Land Offering (SLO)

Again we saw some record amounts, but also assets that sold for the minimum bid amount or just slightly above it. For those who want to look for a good deal it can really pay to follow the auctions closely. You may walk away with some really cool assets for a very decent, even below market, price.

Overview

When: November 8th, 2020 – November 15th, 2020

What: 50 XLarge, Medium and Small inland and roadside parcels and estates + 9 XLarge, Medium and Small Somnium Space World tokens.

Description: Parcels and estates north of Somnium Waypoint, a very attractive and easy to reach area. 9 Somnium Space World tokens of which 3 are founders edition worlds.

Auction rules: Standard/English auction (ascending bid) – starting with minimum price as established by Somnium Space.

Total sales this week

The following table shows the total sales amount per symbol (ETH, CUBES, DAI) as well as the equivalent in US dollars (based on rates at the time of writing).

Symbol | Amount | US dollars
| 461.9 | USD 207,855
| 152,419 (includes purchase of 100,000 CUBES) | USD 60,000
| 26,643 | USD 26,643
| Total Week 2 | USD 294,498.00

Of the total amount in USD, almost half (USD 145,777) was spent on the 9 Somnium Space Worlds on auction.

Parcels

USD Amounts

The following chart shows the amount in USD per parcel. The biggest bid and selling price was for an XL parcel (USD 4.000).

Average price per parcel size

Average price per parcel size. As expected, XL parcels were sold for the highest amounts.

Estates

3 estates were on auction as well. Two XL estates and one M estate. Below the prices in USD. One of the very attractive estates was sold for 69.9 ETH (more than USD 31,000).

Worlds

As mentioned, Somnium Space Worlds represent a revolutionary new feature that allows users to plug in custom developed VR experiences into the platform.

It was expected that both the utility and scarcity (only 70 NFT’s of this kind are available during the SLO) of this asset would stir a lot of interest. The charts support this. While the minimum bid amounts as set by Somnium Space were actually pretty low, the final transaction amounts were significantly higher.

The below charts show sales in ETH and USD respectively.

Secondary Land Offering Week by Week

The week by week chart looks like this.

The total amount spent stands at:

572,531 USD