One of the most popular metaverses is Decentraland.
The press kit for Decentraland.
The metaverse has booming real estate.
A plot of digital land in Decentraland, an online, virtual-only environment, sold for a record $2.43 million worth ofcryptocurrencies on Tuesday, more than double the previous record high for virtual real estate.
That's also a tad higher than the average home in Manhattan, and well above prices in the other boroughs as well as those in San Francisco.
A Decentraland spokesman said that Metaverse Group bought a patch of digital land for 618,000 MANA, or $2,428,740 at the time. Users use MANA to buy and sell assets in the virtual space.
The "116 parcel estate in the heart of the Fashion Street district" of Decentraland will be used for expansion into the digital fashion industry.
Home prices in the US finance and tech capitals are still higher than in other parts of the world.
A parcel of land in Decentraland is equivalent to 52.5 square feet. The average home in San Francisco has 1,150 square feet of space. $400 per square foot in Decentraland is more than $1,200 in San Francisco.
Since Facebook changed its name to Meta, interest in the metaverse has gone up. Land in the metaverse has been bought by enthusiasts as a speculative investment and other digital properties have sold for high prices.
MANA has risen almost 60% in the last week, and is connected to the surging metaverse.
Business Insider has an original article.
