A plot in Decentraland has been sold for $2.4 million! Does that make virtual properties as valuable as real-world properties? Learn more!
Just recently when Facebook shook the entire world with its announcement of rebranding its parent company name, the organic search volume of the words “meta” and “metaverse” grew rapidly. This resulted in many people finally understanding the core concept of the metaverse. However, if you’re still unsure of what it is, let us help you.
We always dreamt of a virtual world where we were allowed to perform activities without the limitation of our worldly body movements. Metaverse is just that. It consists of a virtual world with real-world users having individual digital identities (in the form of avatars) that can be edited whenever you want.
After the initial hype of several metaverse projects, their fame started to dry out. Just when it was all going down, the crypto community was shaken by the latest news that has boggled the minds of many large-scale investors. Let’s dive deep into what actually happened!
What Is Decentraland?
You can explore different pieces of land, perform several gaming and lifestyle activities, and live the lifestyle that you have always wanted. This and a lot more is now possible with just the creation of an avatar and connection of your Ethereum wallet.
Decentraland and Its Record-Breaking Sale
November 23rd, when the crypto markets were struggling with the decline in value of Bitcoin and altcoins, the metaverse project brought in great news!
Since MANA provides its users with a virtual world that consists of various pieces of land that are still unsold due to the lack of buyers, trading such assets in the digital space is still a relatively new idea. However, just recently, a patch of virtual real estate in the metaverse was sold for a record $2.4 million.
This is why the blockchain-backed metaverse, Decentraland, caught the attention of industry-leading investors who have been looking for interesting investment options in the metaverse category.
Decentraland & The Role of Metaverse
For this reason, metaverse-related coins have flown off the price charts and have provided unbelievably massive amounts of profits to the early settlers. The healthy mixture of virtual reality and real-world utility has developed an opportunity for the existence of a photorealistic virtual world that will have proper activities to keep the customers busy on the platform and allow many businesses to get more exposure.
Although the future is still hazy, it’s a no-brainer that MANA’s role is essential in the metaverse industry in the years to come.
What Does the Future Entail After This?
Irrespective of the world’s economic conditions, this news has truly shaken the entire trading market and has piqued the investors’ interest in NFT trading. Twitter spaces are full of people discussing various metaverse projects, communicating the differences between them, and analyzing which requires a substantial amount of funds to kickstart its campaign.