Decentraland Hit's All-Time High Amidst Metaverse Real Estate Frenzy

A record real-estate sale also has many eyeing the metaverse as the next crypto hype.

By
Kyle Heise
on
November 26, 2021
Category:
Blockchain News

Records for Decentraland

A recent surge in metaverse real-estate sales has helped push Decentraland’s $MANA token to a new all-time high of $5.90. The token has risen over 66% in the past week, according to CoinMarketCap.

Decentralalnd stole headlines when a piece of real estate was purchased for $2.4 million by the Metaverse Group, a subsidiary of Tokens.com. The digital real estate sale is the largest in history and signals a shift in attention. An unknown whale account moved $9 million worth of MANA, adding to the speculation that interest in metaverses is on the rise.

“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 of Metaverse Group, in a press release on Nov. 23rd.

$MANA pushed its market capitalization north of $9.2 billion, surpassing that of Axie Infinity and raising speculation that a metaverse surge could be next in line. Meta––formerly known as Facebook––pushed the narrative further down the metaverse rabbit hole as well. $MANA is now the 24th-largest cryptocurrency by market cap and could see further growth as the token aims for $7. 

Decentraland 

Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. Decentraland was launched following a $24 million initial coin offering (ICO) that was conducted in 2017. The virtual world launched its closed beta in 2019 and opened to the public in February 2020. Since then, users have created a wide range of experiences on their parcels of LAND, including interactive games, sprawling 3D scenes, and a variety of other interactive experiences.

Where to find Decentraland:

Website | Twitter | GitHub | Discord |  

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Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. He holds bags mostly in ETH, CRO, CAKE, and BSC meme projects.

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