A virtual real estate plot just sold for $2.4 million in cryptocurrency

A virtual real estate plot just sold for $2.4 million in cryptocurrency

Decentraland is giving cryptocurrency enthusiasts a unique real estate experience

A new record has been set in the crypto space as it has been reported that a virtual plot of land in the Decentraland online world was sold for a value of no less than $2.4 million in cryptocurrencies.

Metaverse Group is reported to be the entity in charge of purchasing the 116-plot property, located in the heart of Decentraland’s fashion district. This subsidiary of Token.com, a publicly-traded company that invests in cryptoassets, has come to set a new record with this recent purchase. The virtual property comprises a total of 6,090 square feet of land, with each parcel equivalent to 52.5 square feet. This means that the recent acquisition becomes Mataverse’s most significant acquisition to date.

Among the plans, it has been indicated that Metaverse Group will collaborate with Decentraland to develop retail and fashion show assets. The company has indicated that its future goal is to enter into partnerships with existing fashion brands that aim to expand their e-commerce offerings within the Metaverse. A sale like this comes exactly at a time where the metaverse has been gaining even more and more popularity.

Gucci, Burberry and Louis Vuitton are some of the prestigious brands that have entered the metaverse with designer NFT. On the other hand, Nike did not want to be left behind, either, as it announced that it would launch digital sneakers in its own virtual world called “Nikeland.”

High-profile companies such as Epic Games and Roblox have announced in the past that they have plans to build their own metaverses. Another big player that has reportedly been working on building a metaverse for office workers through its Teams product has been Microsoft. A new feature called Mesh for Teams will give people the opportunity to access meetings in the metaverse through smartphones, laptops, and mixed reality headsets.

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