An NFT collector spent a little under a half-million dollars for the privilege of becoming Snoop Dogg’s next-door neighbor. In the metaverse, of course.
Going by the name P-Ape, the collector just purchased a digital plot of land in Snoop Dogg’s new virtual world, Snoopverse, for $450,000 on Dec. 3, according to Decrypt.
In response to P-Ape’s purchase, Snoop tweeted, “Won’t u be my neighbor.”
The rapper announced that he would be building his own virtual world in the metaverse on the Sandbox platform this September.
“I’m always on the lookout for new ways of connecting with fans and what we’ve created in The Sandbox is the future of virtual hangouts, NFT drops, and exclusive concerts,” Snoop Dogg said in a press release, according to Decrypt.
The “metaverse” describes a series of virtual world-building platforms on the internet, where users can do business and play games. Recently, the ability to buy and sell digital “land” or even bigger “estates” on metaverse platforms like Sandbox and Decentraland has been particularly popular. Tokens.com, a crypto investment company, just purchased a plot of land on Decentraland for $2.43 million, according to Markets Insider. A plot of virtual land on the Sandbox platform recently sold for a record $4.3 million.
So, what is this Snoopverse actually going to look like? Well, a lot like his real-life home, apparently. Snoop Dogg is designing his own digital stomping ground to include a virtual version of his actual mansion in California, according to Business Insider. An early access pass (which currently costs just under $3,000) allows users to get involved in the development of the virtual world, which includes access to new avatars and play-to-earn games.
To advertise his early access pass, Snoop tweeted earlier this month: “We on the cusp of a digital revolution.”
There are also 1,000 private passes for about $5,700 each that users can buy “to step into Snoop Dogg’s lifestyle,” which gives them exclusive benefits like access to a private virtual party and the opportunity to have Snoop Dogg perform “on your land.” And nothing says “welcome to the neighborhood” like a ticketed pool party, advertised as “a once-in-a-lifetime opportunity to party with the Dogg and ask him any questions you want.”
Snoop Dogg did not respond to Fortune’s request for comment.
The first “wave” of virtual land sales in the Snoopverse started on Dec. 2, with 122 parcels of digital land and 67 premium land-and-NFT bundles available for purchase. Three “estates” in the Snoopverse were also auctioned off.
The Sandbox did not respond to Fortune’s request for comment.
Snoop is the first rapper to collaborate with Sandbox, according to the Independent, but brands like Adidas and gaming companies like Ultra and Atari have already become Sandbox partners.
Major investors like Cathie Wood, CEO of ARK Invest, believe the value of the business opportunities within the metaverse will be in the trillions.
“We’re going to have our digital twins, and it’s going to enable a lot of fun and a lot of efficiencies,” she said on CNBC Pro Talk, Fortune previously reported.
Since the Sandbox launched, 65% of its virtual land has sold, and November saw a significant jump from 12,000 land investors to 16,000, the founder of the Sandbox, Sebastien Borget, said.
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