Cryptocurrency investors Tokens.com and Decentraland stated on Tuesday that a virtual real estate in the online world of Decentraland was sold for a record value of $2.4 million in cryptocurrency.
Decentraland is an online environment-also known as “meta universe”-where users can buy land, visit buildings, walk around and meet people as avatars.

This year, this environment has become more and more popular because the pandemic has caused people to spend more time online.

Last month, when Facebook changed its name to Meta to reflect its focus on developing virtual reality products for Metaverse, interest surged.

Decentraland is a specific type of metaverse that uses blockchain. Land and other items in Decentraland are sold in the form of non-fungible tokens (NFT), which are crypto assets.

Crypto enthusiasts use Decentraland’s cryptocurrency MANA to buy land there as a speculative investment.

A Decentraland spokesperson and a statement from Tokens.com stated that Metaverse Group, a subsidiary of Tokens.com, purchased a piece of real estate for 618,000 MANA on Monday, which was approximately US$2,428,740 at the time.

Reuters also saw land purchase records on the NFT market OpenSea.

Decentraland stated that this is the most expensive purchase of a piece of virtual real estate on the platform.

The land is located in the “Fashion Street” area of ​​the Decentraland map, and Tokens.com said it will be used to host digital fashion events and sell virtual clothing.

It consists of 116 smaller plots, each with an area of ​​52.5 square feet, making the land area 6,090 square feet.

Andrew Kiguel, CEO of Tokens.com, said that these assets will supplement the real estate that Metaverse Group already holds.

In June, a piece of virtual land in Decentraland was sold for 1,295,000 MANA, which was worth US$913,228 at the time. Buyers set up a virtual shopping mall to sell digital clothing, but Reuters has visited the site many times but has not seen any shoppers.

News Source : NDTV