eSports

NAVINATION Virtual Item Sells for $100K

Los Angeles-based DMarket, a non-fungible token (NFT) and in-game items marketplace brokering assets from game developers, players, and esports organizations (among others), announced Monday that it completed what it calls “the biggest sale in the history of esports memorabilia” related to esports organization NAVI’s (Natus Vincere) recently launched fan appreciation program, NAVINATION. The virtual item in question, the “NAVINATION Season 1 NFT Cup,” was sold for $100K USD in a person-to-person transaction on DMarket.com. NAVINATION uses DMarket’s Drop.gg application.

A rep. for DMarket tells The Esports Observer that NAVI will collect 30% of that transaction, or $30K.  “We give 30% revenue share to partners, from initial sales and secondary market – all transactions on the market,” the rep. said.

On March 3, a similar item sold through NAVINATION for $10K before being offered again at $20K later in the day on DMarket.

TEO could not independently verify the real names of the users involved in these transactions, and it should be noted that blockchain-based markets like DMarket are generally unregulated in countries around the world. 

NAVI launched its fan appreciation program at the end of February, providing incentives called “drops,” or digital parts that can be used to craft items for both real-world prizes and digital rewards. These incentives are earned by inviting people to NAVINATION or watching NAVI during esports competitions and streams on Twitch.

Source: Read Full Article