The land is in the "Fashion Street" area of Decentraland's map and said it would be used to host digital fashion events and sell virtual clothing for avatars. Reuters also saw the land's purchase recorded on the NFT marketplace OpenSea.ĭecentraland said it was the most expensive purchase of a plot of virtual real estate on the platform.
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Land and other items in Decentraland are sold in the form of non-fungible tokens (NFTs), a kind of crypto asset.Ĭrypto enthusiasts buy land there as a speculative investment, using Decentraland's cryptocurrency, MANA.Ī subsidiary of, called the Metaverse Group, bought a patch of real estate for 618,000 MANA on Monday, which was around $2,428,740 at the time, a Decentraland spokesman and a statement by said. Interest surged last month when Facebook Inc changed its name to Meta Platforms Inc to reflect its focus on developing virtual reality products for the metaverse.ĭecentraland is a specific type of metaverse that uses blockchain. Such environments have grown in popularity this year as the pandemic caused people to spend more time online. LONDON: A patch of virtual real estate in the online world Decentraland sold for a record US$2.4 million worth of cryptocurrency, the buyer crypto investor and Decentraland said.ĭecentraland is an online environment - also called a "metaverse" - where users can buy land, visit buildings, walk around and meet people as avatars. Visitors in front of a 3D immersive art installation titled "Machine Hallucinations - Space: Metaverse" by media artist Refik Anadol, which was converted into NFT and auctioned online recently by Sotheby's at the Digital Art Fair in Hong Kong for HK$18,325,000 (about 78,300,000 baht).
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