Canadian investment firm acquired nearly $2.5 million of virtual land in the platform Decentraland, according to a report by The Block on Tuesday.

  • acquired 116 parcels of virtual land valued at 618,000 MANA, the narrative currency of Decentraland.
  •  The company indicated that the purchase represented a massive transaction of its kind to date.
  • The investment firm bought the land via the virtual real estate company, Metaverse Group which provides virtual land development services for customers.
  • The acquisition is equal to 6,090 square feet of physical land that is almost the size of 1.6 basketball courts.
  • In October, acquired a 50% stake in Metaverse Group for $1.68 million. Metaverse Group is involved in the selling and renting of virtual land in the virtual world platforms Cryptovoxels, The Sandbox, Upland, and Somnium.

 The purchased lots are situated in Decentraland’s Fashion Street district and would be developed to accommodate the rising demand for fashion brands to market their brands in the metaverse. MANA USD up +25.17%