For a whopping (dollar)2.43 million, Metaverse Group buys the digital land ‘Decentraland.’

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For a whopping (dollar)2.43 million, Metaverse Group buys the digital land ‘Decentraland.’

A virtual land known as “Decentraland” was recently sold for an incredible (dollar)2.43 million.

The Metaverse Group paid twice the original asking price for the digital plot of land.

Many people have become more interested in owning a digital land such as this virtual real estate as the metaverse has grown in popularity.

Investors have been more interested in exploring what is beyond digital currencies and non-fungible tokens (NFTs) than in investing in cryptocurrencies.

The price of virtual real estate was (dollar)2.43 million.

Decentraland works like a typical virtual environment where users can interact with other people, according to a report published by The New York Post on Thursday, Nov.25.

The virtual land’s popularity soared as a result of the metaverse trend, following Facebook’s sudden fame when it changed its name to Meta.

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The Metaverse group purchased virtual real estate in the Fashion street district of the virtual blockchain platform for 618,000 mana.

The official cryptocurrency was used in this virtual space by Tokens.com’s subsidiary.

According to a press release, Metaverse paid (dollar)2.43 million in cash for Decentraland during that time period.

In addition, the company announced that it would use its newly acquired virtual real estate to provide assistance to the digital fashion industry.

The metaverse, according to Decentraland Foundation content head Sam Hilton, will be the “next massive area for growth,” with the Metaverse Group’s recent purchase of the digital land being both exciting and timely.

Many fashion NFTs, such as Louis Vuitton and Gucci, have been gradually joining the metaverse in line with the fashion trend.

Nike has expressed interest in joining the Metaverse project, according to the same report.

However, it did not specify which NFTs would be released in the future.

Another piece of virtual land in Decentraland was sold for over (dollar)913,000 in June.

As a result, November’s virtual real estate purchase broke the previous high.

The MANA Token in Decentraland has grown by 40%.

The value of MANA tokens reached an all-time high price of (dollar)5.84 for the first time following the purchase of the virtual reality platform in Decentraland.

According to Coindesk, the cryptocurrency’s value increased by nearly 40% last week.

Recent MANA transactions indicated that it was in high demand at the time.

Amounts in excess of (dollar)100,000.

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