There’s apparently a real estate boom – in the metaverse.
For anyone confused by what the heck will happen in this digital environment, sorry, but this isn’t going to help matters much.
A plot of digital land located in Decentraland just sold for $2.43 million of cryptocurrency, which doubles the previous record for most expensive virtual real estate.
The company that completed the transaction is called Metaverse Group, which is a subsidiary of Tokens.com. The purchase was made with 518000 MANA, which is Decentraland’s cryptocurrency.
You must be asking yourself if this is ocean-front digital property? Or maybe a penthouse with killer “meta views?”
Negative. It was located in the heart of the “Fashion Street District,” according to Insider.
Blame Mark Zuckerberg for this. He ignited interest in the metaverse when he re-named Facebook to Meta last month.
A couple of final points here. The value of MANA is rising and has been up almost 60% in the past week.
And that $2.43 million price tag for the real estate that was just sold is above the cost of a price of an average home in Manhattan, Los Angeles, and San Francisco.