The Yuan Universe has become "hot for real estate speculation"? A piece of virtual land was sold for tens of millions of yuan.

With the sharp rise of people's interest in meta-universe all over the world, a wave of "real estate speculation" has also blown into the meta-universe.

On Tuesday, US Eastern time, a piece of digital land was sold for $2.43 million on the virtual world platform Decentraland, setting another record for virtual real estate prices. The price is more than double the previous virtual real estate record of $913000, and it is also slightly higher than the real-life average price of a unit in Manhattan and much higher than that of other U. S. boroughs and San Francisco.

The buyer of the digital land is Metaverse Group, a subsidiary of Tokens.com, a digital asset investment group. The company bought a piece of digital land for 618000 mana. Mana is the cryptographic currency used in Decentraland, which is equivalent to US $2.43 million if converted into French currency.

The land for sale is 116 plots in (Fashion Street Estate), the center of a fashionable district, and Tokens.com says they will use the land to expand the digital fashion industry.

Of course, if calculated in terms of the average price per unit area, the house price of Decentraland is still not comparable to that of first-tier cities in the United States. A piece of land in Decentraland is equivalent to 52.5 square feet in (parcel), so the land purchased by Tokens.com is equivalent to about 6090 square feet (565.8 square meters)-much higher than the average residential area of 1150 square feet (106.8 square meters) in San Francisco. That means the price of land per square foot in Decentraland, is about $400, compared with $1200 in San Francisco.

The price of encrypted tokens linked to meta-universe has also soared recently, with the price of mana rising nearly 60 per cent in the past week after more and more people flocked to meta-universe.

Author: Liu Rui