[imagesource: Decentraland]

Since people have been stuck inside for large parts of the past 18 months or so, virtual environments are becoming increasingly attractive.

The concept of interacting in a virtual world really skyrocketed when Facebook changed their name to Meta and introduced its plans for the metaverse.

Now, there is a fair amount of competition out there in the cloud.

Decentraland – an online virtual reality in which you, as an avatar, can buy virtual clothes, virtual real estate, and virtually anything – is really ramping up the whole metaverse concept.

Reuters just reported that crypto investor Tokens.com just bought a patch of Decentraland’s virtual real estate for a record $2,4 million in cryptocurrency.

That’s a whopping R38 million.

Decentraland confirmed that it was the most expensive purchase of a plot of virtual real estate on the platform.

Here’s more about how it all works:

Decentraland is a specific type of metaverse that uses blockchain. Land and other items in Decentraland are sold in the form of non-fungible tokens (NFTs), a kind of crypto asset.

Crypto enthusiasts buy land there as a speculative investment, using Decentraland’s cryptocurrency, MANA.

Metaverse Group, a subsidiary of Tokens.com, made the virtual real estate purchase to complement the virtual land that it already owns:

The land is in the “Fashion Street” area of Decentraland’s map and Tokens.com said it would be used to host digital fashion events and sell virtual clothing for avatars.

It is made of 116 smaller parcels, measuring 52,5 square feet each, making the land 6 090 virtual square feet in size.

Yeah, virtual clothing is also a thing now, in the metaverse and beyond:

 

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Sometimes I wonder if folks thoroughly understand these concepts, or if everyone is just operating under some kind of blind faith.

Others state with confidence that those who don’t understand will just be left behind.

We’ll leave you with this video from the BBC about Decentraland to help you make sense of it all:

[source:reuters]