Canadian company buys $2.5M worth of virtual land

Canadian company buys $2.5M worth of virtual land 2

The Canadian investment firm,, purchased around 116 parcels of virtual land for a total of 618,000 MANA. 

After the initiative of the Facebook company to rebrand the company name from Facebook to Metaverse, the whole crypto industry is moving toward another side. At the beginning of this year, there was no discussion about the Metaverse concept but It seems that Metaverse is going to take on a new life with virtual reality. And these types of initiatives are pushing the Metaverse-based crypto projects toward more adoption. 

On 23 November, bought virtual land for a total of 618,000 MANA on the Decentraland. 

MANA is a native crypto asset of the Decentraland company. And it can be used to buy many types of services in the Decentraland ecosystem like games, apps, avatars, images, and virtual properties to sustain virtual games. 

Through the press release, the company claimed that’s buy of virtual land is the biggest buy on their platform to date. 

Interestingly, the virtual land is equivalent to 6,090 square feet. 

In October, bought around 50% of the stake in Metaverse Group. Metaverse group is a dedicated platform that allows their clients to purchase services in the  Cryptovoxels, The Sandbox, Upland, and Somnium like platforms. 

Sam Hamilton, the head of Content at the Decentraland Foundation, elaborated on this success to sell such a big virtual property. He said: 

“Fashion is the next massive area for growth in the metaverse….So it’s timely, and very exciting, that Metaverse Group has made such a decisive commitment with this land purchase in the heart of Decentraland’s fashion precinct.” 

Because of the growing demand for virtual reality, new and old companies are trying their best to get into the Metaverse space. Here the current initiative of the new companies is to showcase the brand’s items in the digital virtual world. 

Read also: Cardano developers aim to increase block size and Plutus script memory unit