The real estate market is booming in the virtual world. A plot of digital land in Decentraland just sold to the Metaverse Group for $2.43M, or 618,000 Mana.
- Decentraland's cryptocurrency Mana allows users to buy and sell virtual assets in the metaverse.
- Let's compare the price of virtual land in the metaverse versus the real world:
- One parcel of land in Decentraland is equivalent to 52.5 square feet. Metaverse Group purchased 6,090 square feet — above the 1,150 average square footage for a home in San Francisco.
- In Decentraland, it costs $400 a square foot compared to $1,200 in San Francisco.
- In October this year, Tokens.com purchased a 50% stake in Metaverse Group for $1.68M.
- Metaverse Group specializes in virtual land real estate on the Cryptovoxels, The Sandbox, Upland, and Somnium platforms.