Virtual Real Estate Plot Sells for Record $2.4 Million

A patch of virtual real estate in the online world Decentraland sold for a record $2.4 million worth of cryptocurrency, the buyer crypto investor Tokens.com and Decentraland said on Tuesday. From a report: Decentraland is an online environment -- also called a "metaverse" -- where users can buy land, visit buildings, walk around and meet people as avatars. Such environments have grown in popularity this year, as the pandemic caused people to spend more time online. read more Interest surged last month when Facebook changed its name to Meta to reflect its focus on developing virtual reality products for the metaverse. Decentraland is a specific type of metaverse that uses blockchain. Land and other items in Decentraland are sold in the form of non-fungible tokens (NFTs), a kind of crypto asset. Crypto enthusiasts buy land there as a speculative investment, using Decentraland's cryptocurrency, MANA. A subsidiary of Tokens.com, called the Metaverse Group, bought a patch of real estate for 618,000 MANA on Monday, which was around $3.27 million at the time of this Slashdot post, a Decentraland spokesman and a statement by Tokens.com said.

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