Virtual ‘estate’ that exists only on the internet sells for record $2.4 million – Portland, Oregon


Portland, Oregon 2021-12-02 15:22:02 –

(Getty Images)

((((Genuine)-rapid growth Digital real estate The market is overheating.

Decentraland’s virtual “real estate”, one of the two dominant metaverses, changed hands on November 23 for a record amount ($ 2.4 million at the time). Corp. has paid 618,000 MANA (Native Decentraland Cryptocurrency) to 116 parcels that make up approximately 6,090 square feet of the virtual world through its subsidiary Metaverse Group.

Located in the fashion district of Decentraland, this property is now much more valuable, thanks to MANA’s 35% increase in value overnight. Cryptocurrencies are notorious for their instability, but the market as a whole has been on the rise since the summer. According to the crypto market Coinbase, MANA’s dollar value has increased by more than 65% last week and more than 550% last month.

Decentraland, like the other Metaverses, is still barely developed. However, investors’ interest in the Metaverse has increased in recent months as retail, gaming and media companies like Facebook are betting their claims in the virtual world. As the number of participants increased, value fused around real estate and other parcels near trafficking public squares and emerging commercial businesses such as casinos.

According to speculators, digital real estate can be used for a variety of purposes, from retail showrooms to event spaces and virtual offices.

Toronto-based is a publicly traded company that promotes investment in digital assets and plans to develop a Decentraland Estate to host fashion shows for clothing brands, the company said in a release. .. Luxury brands such as Louis Vuitton, Gucci and Burberry have already entered the Metaverse through designer NFTs, a unique digital asset protected by blockchain technology.

September, Paid Approximately $ 2 million for a 50% stake in the Metaverse Group’s digital real estate portfolio. This is a plan to spin off as the world’s first Metaverse REIT. is led by Andrew Kiguel, a former real estate investment banker and co-founder and CEO.

Another major metaverse for games, Sandbox, will be available on November 29th, after a four-year development period. SAND, the home currency of the virtual world, has risen by more than 800% last more

Virtual ‘estate’ that exists only on the internet sells for record $2.4 million Source link Virtual ‘estate’ that exists only on the internet sells for record $2.4 million

The post Virtual ‘estate’ that exists only on the internet sells for record $2.4 million – Portland, Oregon appeared first on Eminetra.


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