Virtual real estate plot in Decentraland sells for record $2.4M in cryptocurrency

National Association of Home Builders CEO Jerry Howard weighs in on the supply chain and labor shortages in the real estate market and how it impacts consumers. A virtual plot of land in the online world of Decentraland has sold for a record $2.4 million worth of cryptocurrency. The 116 parcel estate, located in the heart of Decentraland’s Fashion District, was acquired by Metaverse Group, a subsidiary of Tokens.com, a publicly-traded company which invests in revenue-generating crypto assets linked to decentralized finance, non-fungible tokens, or NFTs, and metaverse real estate. Ticker Security Last Change Change %SMURF TOKENS.COM 2.66 +0.53 +24.88%The virtual property is equivalent to a total of 6,090 square feet of land, with each parcel equivalent to 52.5 square feet, marking the largest metaverse acquisition to date. The acquisition was purchased on Monday for 618,000 MANA, an Ethereum based token used as currency in Decentraland. REGULATORY RIDDLE: AN INVESTIGATION INTO THE SEC V. RIPPLE CASE AND ITS CONSEQUENCES FOR CRYPTO Metaverse Group will collaborate with Decentraland to develop the estate for fashion shows and commerce. The company plans to establish partnerships with existing fashion brands looking to expand their e‑commerce offerings within the metaverse. Ticker Security Last Change Change %PPRUY KERING SA 79.875 +0.24 +0.31%BURBY BURBERRY GROUP PLC 25.46 +0.01 +0.02%LVMUY LVMH MOËT HENNESSY …

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