Virtual land 'unhabitable' sold for a record $ 2.4 million

Virtual environments are becoming more and more popular amid the outbreak of the disease causing people to spend more time online (Photo: Reuters).

A subsidiary of the Tokens.com company, Metaverse Group, on November 22 bought the land for 618,000 MANA (Decentraland's own cryptocurrency, equivalent to more than $2.4 million at the time of sale. This is the largest-ever virtual real estate purchase on the platform.

The land consists of 116 units, each unit has an area of ​​​​nearly 5 m2, so the total land area is more than 560 m2. Tokens.com revealed that they will use the virtual land to organize digital fashion events and sell virtual fashion products for avatars.

Decentraland is a kind of virtual platform using blockchain (database system that allows storing and transmitting blocks of information). This is where players can buy and sell land, experience what they create and own, and meet other players as avatars.

In June, an investor also bought a virtual piece of land on Decentraland for approximately one million USD. That land was later built into a shopping mall to sell digital fashion.

In Decentraland, ownership of a virtual platform is traded in the form of NFT (non-fungible token). NFT is a type of crypto-asset that records the ownership of electronic goods in the blockchain.

Unlike cryptocurrency, each NFT is unique and cannot be exchanged for other NFTs. Because of this nature, NFT is a trend to own virtual assets, from videos, photos, audio, to virtual real estate.