Crypto investor buys virtual real estate plot for $2.4m

What

A plot of virtual real estate in the online world Decentraland sold for a record $2.4 million worth of cryptocurrency.

Why

The purchase of land in the online environment’s ‘Fashion Street Estate’ marks the first step in expanding the platform’s e-commerce offerings within the metaverse.

What next

The Decentraland Foundation predicts the importance of fashion in the metaverse to grow significantly in the future and is planning to match its offerings accordingly.

Crypto investor Tokens.com has purchased a plot of virtual real estate in the online world Decentraland for a record $2.4 million worth of cryptocurrency.

Decentraland is a decentralised 3D virtual reality platform – also called a ‘metaverse’ – where users can buy land, visit buildings and interact with other people online. Virtual estate in the world can be bought with the cryptocurrency MANA, which is based on the Ethereum blockchain. 

The purchased plot of land in the ‘Fashion Street Estate’ district within Decentraland marked the first steps of the owner of the platform, Decentraland Foundation, to capitalise on the growing virtual fashion market.

To learn more about cryptocurrencies like Ethereum and MANA, you can visit our learning portal here.

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