The land comprises 116 parcels equivalent to 52.5 square feet each, making the acquisition a total of 6,090 square feet of land. Decentraland has declared this to be the largest metaverse land acquisition to date.
Costing 618,000 mana, Decentraland’s Ethereum-based cryptocurrency, the estate will be developed for fashion shows and commerce, offering partnerships with existing fashion brands who are looking to connect with new audiences and expand their e-commerce offerings within the metaverse.
“Fashion is the next massive area for growth in the metaverse,” said Sam Hamilton, Head of Content at the Decentraland Foundation. “So it’s timely, and very exciting, that Metaverse Group has made such a decisive commitment with this land purchase in the heart of Decentraland’s fashion precinct.”
Metaverse Group CEO Andrew Kiguel said, “We are happy to make history by closing the largest public metaverse land acquisition to date. These assets will complement the existing portfolio of metaverse real estate. We are excited to have our subsidiary successfully close this landmark digital real estate transaction”.