The booming metaverse real estate market. Several digital plots of land on Decentraland, the decentralized 3D virtual reality platform, have been sold for a staggering $ 2.43 million, as Crypto-Auditor was informed.
The sale of this plot of land on the Metaverse Decentraland (MANA) has been concluded by the virtual real estate group Metaverse Group, a subsidiary of the listed company Tokens.com. It includes 116 plots of virtual land, sold for 618,000 MANA, or $ 2.43 million.
At the time of the sale, this was the largest acquisition of land in a metaverse. A record amount that was quickly exceeded. Indeed, days later, another digital plot purchase closed for $ 2.48 million, this time in the Axie Infinity (AXS) metaverse.
The @dcllandbot having fried its circuits, we’re pleased to officially announce the largest metaverse land purchase ever! Congrats to @tokens_com and @Metaverse_Group for securing a 116 parcel estate in the DCL fashion precinct. And if you’re in the fashion industry – get ready! pic.twitter.com/IGyb4nbZQW
— Decentraland (@decentraland) November 23, 2021
Tokens.com has issued an official statement confirming the information. These 116 lots were voluntarily purchased in the heart of the Fashion Street district of Decentraland in order to mark the ambition to “develop the digital fashion sector”. Metaverse Group is also planning numerous partnerships with “several existing fashion brands” to develop its digital commerce offerings via metaverse.
Decentraland is a virtual reality platform, or metaverse, in which users can purchase and operate a piece of digital land. Ultimately, the goal is for users to be able to walk around, visit buildings, and meet other people in the form of an avatar.
Interest in this type of acquisition increased tenfold last month with Facebook’s announcement to rename itself to Meta. Many metaverse-based blockchain projects have seen a notorious craze that has propelled the price of their cryptocurrencies. This is obviously the case for the MANA of Decentraland, but also of the SAND of The Sandbox, whose prices have reached historic highs.
Decentraland’s MANA price rose 682% stratospheric from around $ 0.75 to over $ 5.8. Obviously, the recent correction that has affected the cryptocurrency market for the past few days has finally got the better of this unbridled growth. Indeed, the price of the MANA has logically corrected by around 20% in 2 days.