On Tuesday, the Metaverse Group group from Tokens.com brought a piece of digital land in Decentraland for about $2.43 worth of cryptocurrency.
This marks the biggest ever real-estate transaction in the digital world. Talking about this deal, Metaverse Group said they’d use the purchased land for expanding into the digital-fashion industry, where people can shop digital wearables in the future, in Decentraland.
A Record Digital Real-Estate Deal
Even before Facebook announced its plans for building a purely virtual world – Metaverse, there are projects working on similar ideas. Decentraland is one among them and is now thumping with more users and money flowing in.
As revealed by both Decentraland and Tokens.com, the latter has bought a piece of digital land in Decentraland for 618,000 MANA, translating to over $2.43 million in value. MANA is the cryptocurrency of Decentraland, traded on cryptocurrency exchanges and used by people for transacting within Decentraland.
After Facebook’s announcement of venturing into Metaverse, cryptocurrencies based on similar projects have abruptly grown in popularity, with the price of Decentraland’s MANA rising more than 60% since then.
The digital land brought by Metaverse Group (a subsidiary of Tokens.com) is about 6,090 square feet in space. Decentraland sells its virtual real estate in terms of parcels, with each parcel of land being about 52.5 square feet.
Tokens.com purchase sets a new record from the previous digital land deals, worth about $913,000. Also, the latest deal beats the average real-estate buying price in Manhattan and San Francisco!
Talking about this transaction, Tokens.com said the newly bought land – 116 parcel estate in the center of Fashion Street district of Decentraland, will be used for setting up shopping complexes and venturing into the digital-fashion industry.
We shall see people in Decentraland be flocking around shopping stores of Tokens.com, and buying digital apparel with cryptocurrencies in the future.