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.