CHICAGO – Decentraland Foundation, a leader in the blockchain-based real estate industry, has sold more than $900,000 in virtual land, a record for the platform.
According to Realtor Mag, blockchain-based real estate has seen a surge in 2021, with U.S. investors purchasing 259 units of land in the Decentraland digital world.
Transactions are based on the Ethereum blockchain, a form of cryptocurrency.
Users purchase land to show off their non-fungible token
(NFT) art collections, attend events, visit buildings, and walk around with friends.
Earlier this month a virtual tract in a digital space called The Sandbox sold for $650,000.
For more on blockchain, read “Blockchain and Real Estate,” a technical report from the Texas Real Estate Research Center.
The Texas Real Estate Research Center has a wealth of economic information online for free.
Source: Realtor Magazine