The largest metaverse land acquisition to date was announced this week by the investor called Tokens.com.
The project uses a token called MANA to pay for the land, which is located in a metaverse environment called Decentraland, and costs 618,000 MANA.
According to the report, it's a total of 6,090 square feet of digital land.
Asking critical questions about what is happening here is worth it. It's not like Decentraland is a household name, and it's not like Facebook is either, both of which are in the process of launching extremely well funded takes on the same concept.
The acquisition of Tokens.com will allow it to host fashion shows and collaborate with fashion brands that want to show off their brands in the metaverse. Digital fashion, like that created by DressX, has been showing increasing popularity among fashion commentators on multiple social platforms, but it's not clear whether consumers will ever buy digital garments.
There is some interest among high end brands. Gucci, Louis Vuitton, and others have all launched designer NFTs this year, indicating that they are willing to do so.
Sam Hamilton, head of content at Decentraland, said in the press release that fashion is the next massive area for growth. It is very exciting that we have made such a decisive commitment in the heart of Decentraland's fashion precinct.
According to experts quoted by CoinDesk, the increase in popularity of the token was due to both Facebook and Decentraland.
Andrew Kiguel said that they were happy to make history by closing the largest public metaverse land acquisition to date. The assets will complement the existing portfolio of metaverse real estate.
We are not convinced. While things are falling apart on our planet, brands and investors seem to be falling over themselves to invest in virtual stuff. They will have a nice online vacation home to escape to until the ocean knocks on their door.
The creator of Pokémon Go fears a nightmare called the Dystopian Nightmare.
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