In Brief:
- Tokens.com announced the largest acquisition of land plots in the Metaverse of Metaverse Group.
- The company purchased 116 parcel estate in the Fashion Street district within Decentraland.
- The estate will be utilized to facilitate fashion shows and commerce.
Tokens.com has announced the largest Metaverse land acquisition in history worth $2.5 million. It acquired 116 parcel estate in the Fashion Street district within Decentraland via its subsidiary, Metaverse Group.
As per the announcement, the company will use land plots in metaverse to organize fashion shows and commerce to match the pace of the growing digital fashion industry. To make this vision possible, the firm is also planning to make partnerships with several existing fashion brands.
“Fashion is the next massive area for growth in the metaverse,” said Sam Hamilton, Head of Content at the Decentraland Foundation. “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.”
The reason behind this largest metaverse land acquisition of 6090 square feet (Each parcel purchased in this transaction is equivalent to 52.5 square feet) is to give exposure to non-fungible tokens (NFTs), decentralized finance, and other digital assets.
Metaverse Group is known for its significant development in the metaverse world, which provides similar services as traditional real estate such as property acquisition, development, and management. On top of this service, The company allows marketing and promotional services.
Currently, Metaverse is holding well-regarded plots of land and properties in the world’s most popular metaverse games including Decentraland, The Sandbox, and Somnium Space.
“We are happy to make history by closing the largest public metaverse land acquisition to date. These assets will complement the existing portfolio of metaverse real estate already held at Metaverse Group. We are excited to have our subsidiary successfully close this landmark digital real estate transaction,” said Andrew Kiguel, CEO.
Last month, The company acquired a 50% stake of the Metaverse Group worth $1.6 million and it was the highest equity investment in the Metaverse real estate companies.
