🏜️Decentraland Virtual Land Parcel Sells for Record $2.43 Million
🛍️To "facilitate fashion shows and commerce within the exploding digital fashion industry,"
A patch of virtual real estate in the online world Decentraland sold for a record $2.4 million worth of cryptocurrency, the buyer crypto investor Tokens.com (COIN.NLB) and Decentral said on Tuesday.
Decentraland is an online environment - also called a "metaverse" - where users can buy land, visit buildings, walk around and meet people as avatars.
Such environments have grown in popularity this year, as the pandemic caused people to spend more time online. Interest surged last month when Facebook changed its name to Meta to reflect its focus on developing virtual reality products for the Metaverse.
The land was sold to NFT-based virtual real estate company Metaverse Group for 618,000 MANA, the native cryptocurrency of Decentraland, and attracted a lot of attention to MANA token especially days away from DCentral Miami and Art Basel!
Land and other items in Decentraland are sold in the form of non-fungible tokens (NFTs), a kind of crypto asset. Crypto enthusiasts buy land there as a speculative investment, using Decentraland's cryptocurrency, MANA.
"Fashion is the next massive area for growth in the metaverse," said Sam Hamilton, head of content at the Decentraland Foundation, in a press release accompanying the announcement. "So it’s timely, and very exciting, that Metaverse Group has made such a decisive commitment with this land purchase in the heart of Decentraland’s fashion precinct."
Crypto tokens connected to the metaverse have surged lately, with MANA rising almost 60% in the past week and over 450% for the last 30 days.