$24,000: An Ivory Portal NFT Value Based on Real-World Real Estate

How much is a piece of digital real estate really worth?

It’s a big question in my mind these days after recently minting three Portals and watching the floor price for the low-end model — the Ivory Access Card — jump to 14–15 Solana before slipping back toward 10 SOL in this recent selloff.

Here’s my answer: I value an Ivory Access Card at somewhere north of $24,000, or about 120 SOL at current SOL prices. That would be a nearly 12x move from the price of Ivory card on Magic Eden right now (which, spoiler alert, is why I recently bought my fourth Portal).

I arrive at that $24,000 value by applying real-world real estate analysis to the digital real-estate universe, which might seem a bit crazy but actually serves as a quite-useful gauge of digital land value.

First, let’s establish some admittedly vague comparisons: Sportswear giant Adidas recently spent 400 ETH (roughly $1.7 million at the time) on 144 parcels of land inside The Sandbox. Meanwhile, a company called Metaverse Group spent $2.4 million on parcels in Decentraland.

So big-ass numbers are already a very real part of the metaverse.

True, Decentraland and Sandbox are more mature and well-known and have already launched their metaverses. Portals is still in that process. But I expect we will see big movement on that front as we push into early 2022.