Source: The Real Deal —
The burgeoning digital real estate market is heating up.
A virtual “estate” in Decentraland, one of the two dominant metaverses, changed hands on Nov. 23 for a record sum — the equivalent of $2.4 million at the time.
Tokens.com Corp., via its subsidiary Metaverse Group, paid 618,000 MANA — the native Decentraland cryptocurrency — for 116 parcels comprising some 6,090 square feet in the virtual world.
The estate, in Decentraland’s Fashion District, is now worth much more, thanks to a 35% increase in the value of MANA overnight. Cryptocurrencies are notoriously volatile, but the market overall has trended up since the summer. MANA has increased in dollar value by more than 65 percent over the last week, and by more than 550 percent over the last month, according to crypto marketplace Coinbase.