Spends US$2.52 Million On Virtual Real Estate In Metaverse Corp (NEO: COIN) this morning announced it has made a substantial purchase in a metaverse. The company has acquired “land” or “real estate” in the fake world, whilst claiming it is the largest land acquisition in history in terms of the metaverse.

The acquisition was made via the firms subsidiary, Metaverse Group, within the metaverse known as Decentraland. The purchase reportedly consisted of 116 parcels of land in the realm, for which the company paid 618,000 MANA, or the equivalent of US$2.52 million.

The company is said to have acquired the digital property in what is deemed as a fashion district in the metaverse, and intends to develop the land to facilitate “fashion shows” and commerce within the digital world. The firm intends to partner with existing fashion brands that are looking to expand audiences and ecommerce offerings.

Decentraland claims to be the first such full decentralized virtual world, which is powered by DAO. The world runs on Ethereum, and enables users to buy and sell digital real estate, explore, interact, and play games in the digital world. last traded at $2.38 on the Neo.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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