Land on Decentraland sold for 2.1 million euros – Nach Welt

While real estate prices are skyrocketing, you can’t even live cheaply in the Metaverse anymore. A plot of land in Decentraland was sold for 2.1 million euros. That is more than double the old record in Decentraland of 813 thousand euros.

Purchased from real estate company

The land was sold to NFT-based virtual real estate company Metaverse Group for 618,000 MANA, Decentraland’s native cryptocurrency.

In one Press release tells the team behind the real estate company that the property is being used to “enable fashion shows and commerce in the exploding digital fashion industry”.

The Metaverse Group adds that it plans to partner with “several existing fashion brands” to expand its Metaverse e-commerce offerings.

According to Sam Hamilton from the Decentraland Foundation, this purchase is something special: “Fashion is the new huge growth area in the Metaverse.”

What is the metaverse?

The Metaverse is a virtual world where you can create your own avatar, walk around and talk to others. Actually a kind of Habbo Hotel, World of Warcraft or Second Life, but hip and with blockchain.

After Facebook’s parent company changed its name to Meta, interest in the Metaverse exploded. Other big players like Microsoft An Nike something to do with the metaverse.

Back to cryptocurrency. Decentraland is a crypto-powered Metaverse platform. Virtual objects and properties are represented by NFTs. These are crypto tokens that you can use to prove that you are the owner of a digital asset.

NFTs are considered a critical building block for the Metaverse as they allow users to take ownership of digital assets and move them between different Metaverse platforms.

So after NFTs, the Metaverse seems to be the latest shiny hype in the crypto world. Tokens like Axie Infinity, Sandbox, and MANA from Decentraland are shooting up in the air.

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