It seems crazy, but a virtual plot (digital land) of real estate within the Ethereum-based open-world game, Decentraland, has sold for more than $913,000 — valuing the intangible property on par with the average price of a real world house in Brooklyn, New York.
The digital land is sold in the form of nonfungible tokens (NFTs) dubbed LAND in Decentraland, with the digital plot being sold to virtual real estate-focussed investment firm, Republic Realm. The plot actually represents 259 parcels of digital land, with the transaction settling for 1,295,000 of Decentraland’s native MANA tokens — worth roughly $913,000 at the time of sale (17-06-2021).
On Twitter, the investment firm emphasized its commitment to building on the virtual real estate and adding value to Decentraland’s metaverse.
Decentraland allows players to explore its crypto-powered metaverse, offering an experience akin to a blend between Minecraft and Second Life but with true ownership over in-game items and a player-driven in-game economy.
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Last modified: June 28, 2021
