With the rise in popularity of digital currency and the so-called metaverse, investors are naturally looking to scoop up digital real estate and land. And it was only a matter of time before someone made a record purchase.
According to the New York Post, Metaverse Group has purchase Decentraland, a popular online environment, for $2.43 million. That’s more than double the previous record set for the price of virtual real estate in June for $913,000.
Decentraland is a decentralised 3D virtual reality platform that consists of 90,601 parcels of land, where users can exchange cryptocurrencies for land and buildings, as well as meet other users through avatars.
Metaverse bought the “116 parcel estate in the heart of the Fashion Street district” of Decentraland for 618,000 mana, the cryptocurrency used in the digital world. That’s equivalent to $2.43 million, the Metaverse Group said in a press release.
The company said it will use the virtual real estate to support its expansion into the digital fashion industry.