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Virtual Real Estate Plot Has Sold For Record-Breaking $2.4 Mln In Cryptocurrencies.

On Tuesday, crypto investor Tokens.com and Decentraland announced that the Decentraland Virtual Real Estate Plot Has Sold For Record-Breaking $2.4 Mln In Cryptocurrencies. real estate deals had been sold for a record amount of $ 2.4 million.

Decentraland is a virtual world – often known as a “metaverse” – where users can buy land, visit buildings, travel, and interact with avatars.

As the epidemic has driven people to spend more time online, such sites have surged in popularity this year.

Last month, Facebook changed its name to Meta to emphasise its focus on developing real-time metaverse products, which piqued interest.

Decentraland is a type of blockchain-based metaverse. Stamped tokens (NFTs), a sort of crypto asset, are used to trade land and other things in Decentraland.

Crypto enthusiasts use the Decentraland cryptocurrency, MANA, to purchase land there as a speculative investment.

According to a Decentraland representative and a Tokens.com statement, a Tokens.com company called Metaverse Group purchased a piece of real estate for 618,000 MANA on Monday, valued at $ 2,428,740 at the time.

According to Reuters, land acquisition was also registered on the NFT OpenSea market.

The purchase of a real estate plot on Decentraland was described as “expensive.”

On the Decentraland map, the world is in the “Fashion Street” area, and Tokens.com has stated that it would be used to hold digital fashion events and sell visual avatar clothing.

It is made up of 116 separate portions, each measuring 52.5 square feet, totaling 6,090 square feet.

The assets will be in accordance with Metaverse Group’s existing properties, according to Andrew Kiguel, CEO of Tokens.com.

The visible land in Decentraland was sold in June for 1,295,000 MANA, which was about $ 913,228 at the time. Consumers have created a virtual shopping mall to sell digital apparel, but Reuters has visited the site multiple times since then and has yet to see any purchasers.

MANA is highly variable.  According to Coinbase, it has increased by about 400% this month, with a spike following the Facebook name change.

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