Virtual Land Sold for 42,6 Milion, The Future of Metaverse World


Not only in the real world, land buying and selling transactions now can also be done in the virtual world.

The purchase of the digital plot of land was made by a Canadian company, Cited from Kompas news, Thursday (11/25/2021), the land purchased by measures 116 plots of land in the center of the fashion district (Fashion Street) in Decentraland, a virtual world based on the Ethereum network., in a written statement, announced that the digital land was purchased for 618,000 MANA (digital currency in Decentraland) or equivalent to IDR 42.6 billion, through its subsidiary, Metaverse Group.

Each digital plot of land purchased is equivalent to 52.5 square feet (4.8 square meters). That means the total digital land purchased by the Metaverse Group covers an area of ​​565.7 square meters.

Purchase of land for a fashion event The transaction carried out by is the largest acquisition of digital land in Central and to date, according to a statement from Decentraland.

Get information, inspiration, and insight in your email. Register an email More like the real world, the plan is that the purchased digital land will be used to hold fashion shows and trade in the fashion industry digitally.

Not only that, but Metaverse Group also plans to collaborate with several fashion brands that want to reach new audiences and expand the scope of their e-commerce services in the virtual world (metaverse).

Several world-famous fashion brands have so far entered the metaverse world. These include Louis Vuitton and Burberry. The two luxury brands are known to have made NFT-based games to promote their brands.

“Fashion is the next area that will see huge growth in the metaverse,” said Sam Hamilton, Head of Content at the Decentraland Foundation. “So the time has come for Metaverse Group to make a very decisive commitment with the purchase of land in the heart of the Decentraland fashion district,” continued Hamilton.

On the other hand, CEO Andrew Kiguel said, the 116-plot digital land in Decentraland will complement the company’s previous metaverse real estate portfolio.

“We are delighted that our subsidiary (Meteverse Group) has successfully completed this important digital real estate transaction,” said Andrew Kiguel. Through the Metaverse Group, is said to be further developing Fashion Street and bringing new opportunities for fashion brands to showcase new digital merchandise. .