Believe it or not! Virtual land sells for a record 2.4 million crypto
Recommended for Middle Grades
If you have 2.4 million of cryptocurrency (or crypto), that could buy you virtual land or real estate (land in an online world) in one of the most fashionable neighbourhoods in “Decentraland”. That’s about ₹17 crores!
Decentraland said the amount broke the record for the amount paid for a plot of virtual real estate on the platform.
Gone will be the days when buying physical land will be considered a mature and sensible decision. The future lies in owning virtual real estate.
Decentraland or “Metaverse” is an online platform where internet users can buy land and meet people in the form of avatars (a version of yourself online). The pandemic has raised interest in such virtual environments as people spend more and more online. Metaverse is part of “Meta” – formerly known as Facebook.
Ever wonder what you can do with virtual land?
The possibilities seem endless, to name a few – host fashion events, sell virtual clothing, build a virtual shopping centre etc.
Land and other items in Decentraland are sold in the form of NFTs (non-fungible tokens), a type of cryptoasset. Cryptoassets are digital assets (something of value) that operate with the same technology as a cryptocurrency (digital money).
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