- A 500-square-metre plot of virtual real estate has been purchased by the firm Metaverse Group for $2.43 million, which more than doubles the previous record for a sale of property within a virtual reality world.
- Decentraland is one of many VR platforms where Metaverse Property offers listings, including commercial spaces, homes, and art galleries to display digital NFT artwork for sale.
- “Fashion is the next massive area for growth in the metaverse,” the head of content at the Decentraland Foundation stated. “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.”
Anthony Cuthbertson from The Independent writes:
“A 500-square-metre plot of virtual real estate has sold for $2.43 million, breaking the record for the largest ever metaverse land acquisition.
The purchase by the firm Metaverse Group is more than double the previous record for a sale of land or property within a virtual reality world. It follows recent announcements from Meta (formerly Facebook), Microsoft and Nike to focus on the metaverse – a computer-simulated space in which people work, play and interact as avatars.
The Metaverse Group describes itself as “the world’s first virtual real estate company”, and focuses on buying, developing and selling real estate within the metaverse.
“We are happy to make history by closing the largest public metaverse land acquisition to date,” Metaverse Group CEO Andrew Kiguel said in a statement. “These assets will complement the existing portfolio of metaverse real estate already held at Metaverse Group.”
Promotional materials for the firm reference Ready Player One, a science fiction novel and film set in 2045 in which people spend significant portions of their lives within a virtual reality universe called OASIS (Ontologically Anthropocentric Sensory Immersive Simulation)…”
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Economic Left 
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