Is Metaverse blowing up “house speculation fever”? A piece of virtual land was sold at a high price of 10 million yuan

As people all over the world’s interest in the meta universe has soared, a wave of “house speculation fever” has also blown into the meta universe.

On Tuesday, Eastern Time, on the virtual world platform Decentraland , a piece of digital land was sold at a high price of US$2.43 million, setting the price record for virtual real estate once again. This selling price is more than double the previous virtual real estate record of US$913,000. At the same time, the selling price has been slightly higher than the average price of a single house in Manhattan in the United States, and much higher than that of single houses in other U.S. administrative regions and San Francisco. price.

The buyer of this digital land is Metaverse Group, a subsidiary of the digital asset investment group Tokens.com. The company bought a piece of digital land for 618,000 mana. Mana is the cryptocurrency used in the circulation of Decentraland. If converted into fiat currency, this fund is equivalent to US$2.43 million.

The land for sale is 116 parcels located in the center of the Fashion Street Estate. Tokens.com stated that they will use this land to expand the digital fashion industry.

Of course, if you calculate the average price per unit area, Decentraland’s housing prices are still not comparable to first-tier cities in the United States. A parcel in Decentraland is equivalent to 52.5 square feet, so the land purchased by Tokens.com is approximately equivalent to 6090 square feet (approximately 565.8 square meters)-much higher than the average residential area in San Francisco of 1,150 square feet (106.8 square meters). This means that in Decentraland, the price per square foot of land is approximately US$400, while in San Francisco it is US$1,200.

Is Metaverse blowing up "house speculation fever"? A piece of virtual land was sold at a high price of 10 million yuan

Land and real estate in Decentraland can be freely bought and sold with tokens

After more and more people have poured into the meta universe, the price of crypto tokens connected to the meta universe has also surged recently. In the past week, the price of mana has risen by nearly 60%.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/is-metaverse-blowing-up-house-speculation-fever-a-piece-of-virtual-land-was-sold-at-a-high-price-of-10-million-yuan/
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