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Virtual Real Estate Sells for Millions in Metaverse Land Rush

Friday, Dec 03 2021
Commercial Lending
Written by  The Mortgage Leader

Investors are pouring millions of dollars into digital real estate in hopes of becoming virtual landlords, as Facebook’s Meta rebrand has driven interest in the concept of the metaverse. So reports Recode.

facebook 2429746 640 smallOne company alone, Metaverse Group, recently sold a “116-parcel estate” within an online world known as Decentraland for about $2.5 million in cryptocurrency, according to Metaverse Group’s parent company, Token.com.

Metaverses are immersive virtual realms such as the worlds found within Fortnite, Animal Crossing, and Roblox, where users can stream video, play games and make purchases.

Read the full article from Recode.

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