People are buying virtual houses for the price of real ones in Decentraland

People are buying virtual houses for the price of real ones in Decentraland

In the past few months, crypto investors and other progressive people have become fascinated with the Decentraland project. This is an open world game that is based on the Ethereum blockchain and provides opportunities for big earning (or losing money).

In Decentraland, you can create your own virtual avatar and participate in the life of the project – buy land, build a house, create and sell goods as NFTs. Celebrities have been drawn to the game, including Justin Bieber, Ariana Grande, and Snoop Dogg. Decentraland has its own currency that can be bought for crypto or fiat, and owners of virtual coins can directly influence the lives of other people inside the game (for example, vote for certain decisions).

Land and houses inside the virtual world of Decentraland now cost about the same as real estate, and, as in real life, their price depends on the location. For example, a player recently paid $450,000 to build a mansion next to Snoop Dogg’s house.

Due to the interest in the game, real estate prices in Decentraland have recently increased significantly. For example, plots on virtual islands could previously be purchased for $15,000, but now they are sold for $300,000. Not only crypto investors, but also large real estate firms are engaged in investing in virtual real estate. They are buying up land and houses in the hope of selling them for several times the price.

Project Decentraland was launched back in 2016, but began to actively develop in 2020, and attracted increased attention to itself last fall, including due to the fact that celebrities appeared in it. It can be called a kind of “Minecraft” for adults. According to experts, the value of all assets in Decentraland in the coming years may increase to one trillion dollars – this is how much Apple “cost” in 2018.

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