Decentraland: Virtual real estate plot sold for $2.4M in Bitcoin

Decentraland: Virtual real estate plot sold for $2.4M in Bitcoin


Decentraland: Virtual real estate plot sold for $2.4M in Bitcoin

  • In the online realm of Decentraland, a virtual parcel of land sold for a record $2.4 million in bitcoin.

By Elah Mae Ariate Wozinga Staff

Metaverse Group, a subsidiary of, purchased the 116-parcel estate. Metaverse is a publicly-traded firm that invests in revenue-generating crypto assets tied to decentralized finance, non-fungible tokens, or NFTs, and also metaverse real estate.

The virtual property is equivalent to 6,090 square feet of land. Each lot measuring 52.5 square feet, making it the largest metaverse acquisition to date.

On Monday, the acquisition was made for 618,000 MANA, an Ethereum-based token used as currency in Decentraland.

Decentraland to create a fashion show and commerce estate

Metaverse Group will work with Decentraland to create a fashion show and also commerce estate. In fact the company intends to form alliances with existing fashion brands that want to expand their e-commerce offerings within the metaverse.

In addition, Gucci, Burberry, and also Louis Vuitton are just a few of the luxury companies that have entered the metaverse with designer NFTs. Nike recently announced the debut of digital sneakers in “Nikeland,” its own virtual universe.

Both Roblox and Epic Games have already stated their intentions to create their own metaverses. For a Halloween promotion, Chipotle established a virtual restaurant on Roblox.

Metaverse has gained popularity

According to the article, the transaction comes as the metaverse has gained in popularity in recent weeks.

Last month, Facebook CEO Mark Zuckerberg stated that the social media giant would invest heavily in metaverse’s creation. It has now been renamed, Meta.

Meta, who will transition to the ticker symbol MVRS beginning Dec. 1, expects investments in virtual and augmented reality to put a $10 billion dent in the company’s operating profit in 2021, according to the report.

On the company’s fourth-quarter results call, Disney CEO Bob Chapek also hinted that the entertainment conglomerate might build its metaverse.

“Our efforts thus far are only a foreshadowing of a time when we’ll be able to integrate the real and also digital worlds even more closely, allowing for narrative without borders in our own Disney metaverse,” Chapek added.

“Also, we’re excited to provide consumers with unrivaled opportunity to enjoy everything Disney has to offer across all of our products and platforms, no matter where they are.”

Furthermore, Microsoft is developing a metaverse for office workers with its Teams platform.

Mesh for Teams, a new feature, will allow anybody to join meetings in the metaverse via cellphones, laptops, and mixed-reality headsets.

Mesh will be available to Teams’ 250 million users in the first half of 2022.

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