{"id":131635,"date":"2021-12-02T11:23:38","date_gmt":"2021-12-02T19:23:38","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2021\/12\/virtual-land-in-the-metaverse-is-selling-for-millions-of-dollars"},"modified":"2021-12-02T11:23:38","modified_gmt":"2021-12-02T19:23:38","slug":"virtual-land-in-the-metaverse-is-selling-for-millions-of-dollars","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2021\/12\/virtual-land-in-the-metaverse-is-selling-for-millions-of-dollars","title":{"rendered":"Virtual Land in the Metaverse Is Selling for Millions of Dollars"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/virtual-land-in-the-metaverse-is-selling-for-millions-of-dollars2.jpg\"><\/a><\/p>\n<p>People and companies are betting on life becoming more digitized and the much-hyped, little-understood <a href=\"https:\/\/singularityhub.com\/2021\/04\/14\/epic-games-raised-1-billion-to-fund-its-vision-for-building-the-metaverse\/\">metaverse<\/a> taking off; virtual land is becoming as much of an investment as physical land, and if current trends continue, may stand to give early adopters a huge payout. Metaverse Group chose its plot of land very intentionally, and knows exactly what use it will be put to; located in Decentraland\u2019s Fashion Street district, the space will be used \u201cto facilitate fashion shows and commerce within the exploding digital fashion industry.\u201d<\/p>\n<p>Let\u2019s back up a bit. <a href=\"https:\/\/decentraland.org\/\">Decentraland<\/a> is a decentralized virtual world built on the Ethereum blockchain, with \u201cdecentralized\u201d obviously being the key word and the platform\u2019s big differentiator. \u201cThe people who use Decentraland own Decentraland,\u201d Dave Carr, communications lead for the platform, <a href=\"https:\/\/www.euronews.com\/next\/2021\/11\/29\/welcome-to-decentraland-the-metaverse-world-with-its-own-crypto-where-land-is-worth-millio\">told<\/a> <i>Euronews Next<\/i>. \u201cWe have a decentralized autonomous organization in which people can submit proposals and vote on proposals submitted by others. And this effectively determines the future direction of Decentraland.\u201d<\/p>\n<p>Facebook, now Meta, aims to rule the metaverse of the future, but it seems likely that people will gravitate towards platforms like Decentraland precisely because they\u2019re not owned or controlled by a centralized authority. Facebook hasn\u2019t done a great job of earning its users\u2019 trust, and it could take a long time for the company to turn consumer sentiment around. Meanwhile, Decentraland\u2019s emphasis on autonomy and the lack of a single powerful decision-maker may be just what virtual world enthusiasts are looking for.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>People and companies are betting on life becoming more digitized and the much-hyped, little-understood metaverse taking off; virtual land is becoming as much of an investment as physical land, and if current trends continue, may stand to give early adopters a huge payout. Metaverse Group chose its plot of land very intentionally, and knows exactly [\u2026]<\/p>\n","protected":false},"author":513,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1318,1761],"tags":[],"class_list":["post-131635","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-cryptocurrencies"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/131635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/513"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=131635"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/131635\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=131635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=131635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=131635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}