Polka City, a Polkadot-based virtual gaming platfrom comprising of NFTs and Defi has sold a unique piece of NFT in the form of a Gas Station for over $130K. This also makes it the fourth-most valuable NFT ever sold over the past 24 hours. What makes this NFT even more unique is its $POLC dispensing capabilities, where it gives 8250 POLC tokens every week to the owner.
The $POLC token was trading at $1.6 at the time of writing, thus based on its current price the buyer of the NFT art would make $12,921 every week. At the current price it would take just 10 weeks for the current buyer of the NFT to repay the price, given the token price remain stable.
The DappRadar report on the NFT sale suggested that the buyer of the Gas Station NFT is an avid NFT collector and his holdings seem quite considerable despite being small. Similarly, the seller of the NFT is also believed to be an NFT trader who at present holds three Axies and a Polka City Taxi Cab.
NFT Craze Peaking With Bull Market
The NFT craze in 2021 seems to be at its peak as the market has seen a considerable flow of money in the NFT market this year with the top NFT art selling for $69 million. The current frenzy around NFT is being compared to the 2017 ICO frenzy primarily because of the sudden hype around the NFT space with billions flowing into the market.
The Polka City virtual world for example is merely a month old as it was launched only in February this year, however, due to hype around the NFT space it has managed to gain instant popularity with its recent NFT sale. The ecosystem’s NFTs is also quite a unique take on the market where the city is a virtual world consisting of virtual equivalent of real-world things including Taxis and Gas Stations.