Plot of digital land in the metaverse sells for record $2.43 million

Virtual real estate is on a tear. A plot of virtual land in the online world known as Decentraland sold this week for a whopping $2.43 million, more than double the previous record set for the price of virtual real estate. Decentraland is a popular online environment where users can exchange cryptocurrencies for land and buildings. Users can also walk around the digital world and meet other users through customizable avatars. Decentraland exploded in popularity last month after Facebook changed its corporate name to Meta, to reflect the company’s commitment to growing its offerings in the so-called Metaverse, which has become the latest corporate buzzword to reflect what some executives think will be the next iteration of the internet.

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