Investors scoop up land in metaverse: A look at top deals so far
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The metaverse may still be in its infancy, but the size of some of the real estate deals in the virtual universe has been eye-popping. Metaverse projects like Decentraland, Sandbox, and others, where investors flock to buy/sell virtual land, have announced million-dollar deals over the last couple of weeks.Virtual plots of land effectively act as non-fungible tokens or NFTs.
When a plot of land is sold in the metaverse, the owner is the only one with the rights to that virtual land. These virtual plots can be purchased using the native currency of the metaverse from which they are bought.
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