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Decentraland Sees a Record USD 913,000 Virtual Land Sale

Cryptocurrency
18.06.2021
295
Decentraland Sees a Record USD 913,000 Virtual Land Sale
Source: Screenshot / Decentraland Marketplace

Ethereum (ETH)-based open-world virtual reality (VR) game Decentraland just recorded the largest virtual land acquisition in its history. The buyer, virtual real-estate firm Republic Realm paid over USD 913,000 for 259 parcels of digital in-game land, paid in 1,295,000 MANA tokens.

The virtual property was packaged as a non-fungible (NFT) LAND token, and constitutes the largest in-game USD sale so far.

Republic Realm just closed on the largest land acquisition in @decentraland history! We can’t wait to announce our big plans for this estate.Our commitment to building and developing the metaverse is stronger than ever. https://t.co/cIK9EdO660— Republic Realm (@joinrepublic_RE) June 17, 2021

Decentraland is a crypto-powered metaverse game with true ownership over all in-game items, its own native currency MANA, and active player-driven in-game economy. It lets players acquire, sell, build, and develop their own items, venues, and services.

Meanwhile, Republic Realm belongs to online investment platform Republic, which has backing from crypto exchange Binance, as well as Galaxy Digital’s Galaxy Interactive, AngelList, and others.

According to NonFungible.com, the previous record virtual land sale was recorded on May 28. At the time, the buyer paid nearly USD 704,000, which was equivalent to 759,361 MANA tokens.

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Author:cryptonews
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