Decentraland: a virtual “land” sold for $ 3 million in a digital universe

Decentraland: a & ldquo; virtual land & rdquo; sold for $ 3 million in a digital universe

MISE & Agrave; DAY

Believe it or not, a Canadian company just spent $ 3 million to buy 565 square meters of “land” in Decentraland, a digital parallel world. You read correctly.

It is therefore not only in reality that real estate prices make you want to cry: the Canadian company, which specializes in virtual investment, especially in the form of NFT, has just bought a ” terrain ”made up of 116“ plots ”- the platform's unit of measurement – in Decentraland, one of the earliest examples of metaverse. & nbsp;

To do so, the company had to shell out 618,000 “MANA”, the official cryptocurrency of Decentraland, which equates to a tidy sum of US $ 2.4 million, or about C $ 3 million. This is the biggest transaction ever in the digital real estate world to date. & Nbsp;

In its In its simplest definition, a metaverse is a virtual, three-dimensional world that takes the form of the physical world. It is an accessible online place where users interact with each other with an avatar.

It is these parallel universes that companies like the parent company of Facebook, Meta, or even Microsoft want to develop. In some of these universes, such as in Decentraland, it is possible to purchase virtual commodities using cryptocurrency, and even “lands”.

How does it work?

It should be understood that the metaverse will be developed like real society, but in parallel universes. There will develop an economy, a geography, and a society specific to each universe, but online. & Nbsp;

Decentraland is therefore one of the first examples of this type of metaverse. In addition to being able to play in a virtual casino, buy works of art or linen in NFT, the platform also allows you to buy space in your universe. & Nbsp;

This virtual space is divided into 90,000 “plots”, each equivalent to approximately 5 virtual square meters. As in traditional real estate, it is possible to buy one or more of these plots to turn them into land, on which it is then possible to develop the project of your choice. The difference is that here your project will be created virtually in NFT. & Nbsp;

For example, if you want to build an exhibition hall of your virtual artwork, you can do so. You “just” need to design your showroom and turn it into an NFT.

All transactions in Decentraland are done in MANA, its official cryptocurrency. To give you an idea, a MANA is currently equivalent to around 6 Canadian dollars and it was worth around 5 when bought its “land” yesterday. & Nbsp;

Why buy virtual land?

Since Facebook changed its name to Meta in an attempt to crystallize its intention to develop a huge metaverse, interest in everything related to these parallel universes has exploded, as has the value of what is there. & nbsp;

For example, several major clothing brands have expressed their interest in these universes. Nike has notably announced that it has created its own world, Nikeland, in which it is possible to participate in various sports competitions and to buy brand products to dress up your avatar. & Nbsp;

< p> therefore saw this craze as a golden opportunity and purchased said land, which is located in the Fashion Street District of Decentraland. The company hopes that its land will eventually be leased or bought by big fashion brands to hold parades and develop online businesses.

Moreover, like the value of the land of Decentraland has tripled in the past year, it's a safe bet that its investment will grow in value as the metaverse grows. & nbsp;

How to buy land?

1- Buy MANAs from an online cryptocurrency broker.

2- Go to the Decentraland Marketplace. & nbsp;

< p> 3- Choose your land using the map provided

4- Buy

And voila. & nbsp;

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